Government to sell 53.59-percent stake in Sabeco

The Ministry of Industry and Trade is taking steps for the sale of 53.59 percent of its stake, equivalent to nearly 343.7 million shares, in the Saigon Beer, Alcohol and Beverage Corporation (Sabeco).

Transporting Sabeco beer (Source: VNA)

Hanoi (VNA) - The Ministryof Industry and Trade (MoIT) is taking steps for the sale of 53.59 percent of its stake, equivalent tonearly 343.7 million shares, in the country’s largest brewery Saigon Beer, Alcohol and Beverage Corporation (Sabeco).

The shares, coded SAB, will be auctioned atan initial price of 320,000 VND (14.04 USD) each, the ministry said.

The auction, which is setto attract great attention from both domestic and foreign investors, will be heldon December 18 via open competitive bidding in accordance with relevantregulations.

The MoIT has cooperated with Sabeco, consultantjoint ventures and relevant agencies to introduce the auction to domestic andforeign investors through roadshows in Singapore and the UK.

Foreign investors will be allowed to buy up to247.47 million shares, or 38.59 percent stake in Sabeco. Foreign ownership inSabeco is limited to a maximum of 49 percent.

Sabeco currently owns 24 manufacturing plants with a total designed capacity of1.8 billion litres per year, 20 of which are in operation. The remaining fourare expected to begin operation in the near future.

The company holds about 41 percent of thenation’s 6.5 billion USD beer market.
The Ho Chi Minh City SecuritiesCorporation forecasts that by 2017, Sabeco’s net revenue will total 34.6trillion VND, up 13.4 percent year-on-year, and its post-tax profit will reach4.9 trillion VND, up 9.4 percent year-on-year.

In the first half of this year, Sabeco’s post-tax profit touched 2.5 trillionVND, up 8 percent year-on-year, of which the parent company’s profit came to 2.4trillion VND.-VNA 

VNA