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.
On October 17, the Hanoi Stock Exchange (HNX) allowed Habeco to list on the Unlisted Public Company Market (UPCoM).
Habeco, to be coded as BHN on UPCoM, will trade 231.8 million shares.
The fist transaction day and the starting share price will be published in the upcoming days.
In another move, on September 26, the Ministry of Industry and Trade (MoIT) approved Sabeco’s proposal to list on the Ho Chi Minh Stock Exchange (HoSE).
Sabeco will have 12 weeks from September 26 to complete its listing on HoSE. Deputy Minister of Industry and Trade Do Thang Hai said at the government’s regular press conference on August 31 that the state plans to complete the divestment from Sabeco and Habeco within 16 months.
Hai said that the MoIT had directed the two companies to list their shares on the stock exchanges and draw up their divestment schedules, identifying stages and deadlines.
Hai said that domestic and foreign investors alike can buy the shares. The MoIT will hire consultancy companies to build specific divestment plans as well as verify the prices of the two enterprises’ shares.
In case the two beer giants are listed on the stock exchange, the price of the shares will be used as a basis to calculate the initial prices at the auctions.