Illustrative image (Source:VNA)
Hanoi (VNA) – Hanoi Beer Alcohol and Beverage Joint Stock Corporation (Habeco) will start its first trading day on the Unlisted Public Company Market (UPCoM) on October 28, eight years after its initial public offering in March 2008.

Almost 232 million shares of the beverage company will be traded under the stock code BHN at the reference price of 39,000 VND (1.75 USD) per share on its first trading date.

Habeco, headquartered in Hanoi with charter capital of over 2.3 trillion VND, is the third largest beer company in Vietnam with popular brands Hanoi Beer and Truc Bach Beer. It owns 17 subsidiary and nine affiliated companies with total production capacity of over 800 million litres of beer a year.

The company has 623 shareholders, of which the Ministry of Industry and Trade is the biggest stakeholder with a 81.79-percent capital, followed by Carlsberg Group with a 17.08 percent stake.

The brewery has stable performance thanks to large consumption in the country. Vietnam was among top five Asian beer-drinking countries in 2015, consuming 31.7 billion litres a year.

Habeco reported total revenues of over 9.7 trillion VND and net profits of 951 billion VND in 2015. It has targeted product sales of 7.9 trillion VND with 525 million litres of beer, and profits of 848 billion VND in 2016.

Dividend payment this year is expected at 15 percent, up from 10 percent in 2015.

Total production of beer nation-wide reached nearly 2.7 billion litres in the first nine months of this year, up 9 percent year-on-year. Saigon Beer Alcohol Beverage Corporation (Sabeco) is the largest producer with over 1.2 billion litres and Habeco 541 million litres, a recent report of the Ministry of Industry and Trade (MoIT) showed.

The Prime Minister has requested both Habeco and Sabeco to list stocks on the stock exchange before selling State capital to ensure transparency.

The State is expected to sell its entire holdings in these two companies next year.-VNA