A road show will be held in Singapore and the UK to seek potential buyers of stakes of the Sai Gon Alcohol-Beer-Beverage JSC (Sabeco) as the State’s divestment plan in the company is going to finish (Photo: vneconomy.vn)
 
Hanoi (VNA) – A road show will be held in Singapore and the UK to seek potential buyers of stakes of the Sai Gon Alcohol-Beer-Beverage JSC (Sabeco) as the State’s divestment plan in the company is going to finish, said the Ministry of Industry and Trade (MoIT).

Information about Sabeco’s production portfolio as well as its business performance will be given to interested investors on November 24 at Rizt Carlton, 7 Raffles Avenue, Singapore and on November 27 at London Hilton On Park Lane, 22 Park Ln, Mayfair, London, the UK.

For more detailed information, investors can work directly with Sabeco representative at Sabeco office, 5th floor at Vincom Centre, 72 Le Thanh Ton street, District 1, Ho Chi Minh City.

Earlier, the MoIT has announced the State divestment at Sabeco. Accordingly, the divestment will be made on the principle of transparency, ensuring the highest benefit to the State, based on market price, securing foreign ownership in accordance with law and proposing solutions to preserve and develop the Vietnamese beer’s brand name, MoIT said.

The sale will be conducted in a competitive offering of shares among eligible investors in accordance with the regulations relevant to the share sale in Sabeco set by the MoIT.

The sale is forecast to be worth up to trillions of Vietnamese dong and will attract the attention of both domestic and foreign investors.

Sabeco is Vietnam’s largest beer producer, which holds about 40.9 percent of the nation’s 6.5 billion USD beer market and is attractive to foreign investors.

A number of institutional investors and companies have expressed interest in buying Sabeco shares following the Vietnamese Government’s decision to reduce its ownership in the southern brewer. These potential investors include Japan’s Asahi Group, Thailand’s Singha, Kirin, Heineken and Anheuser-Busch InBev.

Sabeco’s main market is Vietnam, but it exports to about 20 countries.

In 2016, Sabeco recorded 30 trillion VND (1.32 billion USD) in revenue and 4.6 trillion VND in post-tax profit, a yearly increase of 10 percent and 28 percent, respectively.

In the first half of 2017, the company posted 15.75 trillion (693 million USD) in revenue and 2.56 trillion VND in post-tax profit.

Sabeco’s shares have declined for seven straight sessions to nearly 271,000 VND per share (11.94 USD) on November 15, but it has still recorded a strong growth of over 37 percent since the start of this year.-VNA