Illustrative image (Source: www.bizlive.vn)
 
Hanoi (VNA) – The Hanoi Beer Alcohol and Beverage Joint Stock Corporation (Habeco) will start trading with code BHN on the HCM Stock Exchange (HOSE) on January 19, the southern bourse has announced.

Habeco will list its entire 231.8 million shares, equivalent to the total listing value of nearly 2.32 trillion VND (103 million USD), at the reference price of 127,600 VND (5.65 USD) per share, the bourse said in a statement. The share price is allowed to fluctuate /-20 per cent on the first trading day.
 
Shares of the North’s largest brewer are trading at some 128,000 VND per share on the Unlisted Public Company Market (UPCoM), which is under the management of the Hanoi Stock Exchange.

HCM City’s exchange on December 30, 2016, approved the company’s filing to move its listing from the UPCoM to HOSE.

By changing its listing to HOSE, which is the main bourse in Vietnam, with total market capitalisation of some 68 billion USD, Habeco is expected to improve its reputation and draw more investments.

The company has become a ‘phenomenon’ on the UPCoM since its debut on October 28 last year, when its price shot from an initial 39,000 VND per share to a peak of 225,800 VND per share on December 16.

Headquartered in Hanoi, it is the largest beer producer in the North and the third-largest beer company in Vietnam, with popular brands such as Hanoi Beer and Truc Bach Beer. It owns 17 subsidiaries and six affiliated companies, with total production capacity of over 800 million litres of beer per year.

Ending September 2016, Habeco reported total combined revenues of nearly 7.65 trillion VND, down 5 percent year-on-year. Its net profit declined by a steeper 23.5 percent year-on-year to 960.5 trillion VND.

The company has not increased its charter capital from the 2008 initial public offering, which remains at over 2.3 trillion VND. Its cumulative annual profits are mainly distributed to its investment and development fund, which amounted to 2.54 trillion VND until September 30, 2016.

Its total equity reached nearly 5.7 trillion VND, 2.5 times its charter capital.-VNA