"Bia Saigon" is among the most consumed beer brands in Vietnam. Photo: Internet.
Saigon Beer Alcohol Beverage Corp or Sabeco
will debut its share listing on the Ho Chi Minh Stock Exchange on December 6, six days sooner than the initial plan, as the government accelerated the sale in brewery assets.
The brewer’s stock will be traded at a starting price of 110,000 dong ($4.88) a share. With 641.28 million shares to be floated, the firm will have a market capitalization of $3.15 billion, making it the fifth largest blue-chip on the exchange after Vinamilk (VNM), PVGas (GAS), Vietcombank (VCB) and Vingroup (VIC).
The Ho Chi Minh City
-based brewer is in process of selecting consultants for the divestment of stake holding, Sabeco Chairman Vo Thanh Ha told local media.
The Ministry of Industry and Trade currently owns an 89.59% stake in the company. Under a planned roadmap, the ministry will sell a 53.59% stake in Sabeco by the end of this year and the rest will be divested next year.
, which already holds 5%, is joined by several international beer titans such as Thailand’s Singha and Thai Beverage, Japan’s Asahi Group and Kirin Holdings to vie for strategic shares in the Vietnamese largest brewery company.
The appeal of Sabeco comes from its good profitability and leading position in the sustainably-growing local beer market.
In the three quarters through September, the firm’s net profit increased 23% year-on-year to 3.55 trillion dong ($157.7 million). Its revenue grew 9% over the same period of 2015 to $968.8 million, of which 86% came from the beer business.