Habeco, one of Vietnam’s biggest brewers, will list all of its shares for the first time next week, giving it a market value of $405 million, the Hanoi Stock Exchange (HNX) said on Friday.
Sloshed back at rowdy open-air “bia hoi” day and night, beer is Vietnam’s tipple of choice and now its cash-strapped government is drawing on the nation’s penchant for lager to raise billions of dollars by selling stakes in state-owned brewers.
Japan’s Asahi Group Holdings and Kirin Holdings are considering bidding for shares of Vietnamese state-owned brewer Saigon Beer Alcohol Beverage, in an auction that could come as soon as next month.
The beer business is booming in Vietnam, and the country’s two largest domestic brewers are soon to be up for sale, including to international investors.
Giving into the government’s urging, Vietnam’s two leading beer producers Hanoi Beer, Alcohol and Beverage JSC (Habeco) and Saigon Beer, Alcohol and Beverage JSC (Sabeco) have both registered to list their shares on stock exchanges and received approval.
The Ministry of Industry and Trade (MoIT) issued a decision to establish a steering committee for the sale of shares of two leading brewery companies. Sai Gon Alcohol, Beer and Beverages Corp. (Sabeco) and Hanoi Beer Alcohol and Beverage JSC … Continue reading
Oct 7 Vietnam’s government will list all its shares of top state-owned brewers, Sabeco and Habeco, on local stock exchanges before considering allowing any international industrial buyer to take a controlling stake, a senior industry and trade ministry official said.
Deputy Prime Minister Truong Hoa Binh has directed the Ministry of Industry and Trade (MoIT) to review the appointment of Mr. Vu Quang Hai, Deputy CEO of the Saigon Beer Alcohol Beverage Joint Stock Corporation (Sabeco).
The government is striving to receive the best prices and protect Vietnamese brands as it implements its plan of divesting itself from big state-owned enterprises.
The brewers’ share debuts were originally scheduled by the end of 2016. Listings by Vietnamese brewers Sabeco and Habeco could be delayed until the first quarter of 2017, a minister said, due to the completion of formalities and talks with … Continue reading