Chủ đề: Sabeco stock sets new record
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06-09-2017, 12:20 PM #1Guest
After the Ministry of Industry and Trade (MoIT) released information about the volume of the state-owned stake to be divested in Saigon Beer, Alcohol and Beverage Corporation (Sabeco), the value of Sabeco shares flew to a new record of VND263,000 ($11.56) on the September 5 trading session.
With the price of VND263,000 ($11.56) apiece, the capitalisation volume of Sabeco stands at $7.5 billion. According to newswire *****, the reason for the soaring share price may be Ho Chi Minh Securities Corporation's latest announcement that the state will divest 53.59 per cent of Sabeco. The divestment may be implemented through auction.
However, there is no specific information on the divestment schedule. Earlier in mid-July, at MoIT’s monthly press conference, Bui Truong Thang, deputy director of MoIT’s Light Industry Department, said that after receiving approval from Prime Minister Nguyen Xuan Phuc for the plan to sell stakes in Sabeco and Habeco, MoIT would speed up the divestment process to carry it out within 2017.
It is not the first time that Sabeco’s shares set a record value. Previously, on the first transaction day on December 6, 2016, Sabeco’s shares increased by the ceiling set by the Ho Chi Minh City Stock Exchange (HoSE). Notably, from a reference price of VND110,000 ($4.9), the SAB ticker opened the day already at VND132,000 ($5.84), a 20 per cent increase from the get-go.
After eight transaction sessions, Sabeco’s shares increased to VND211,500 ($9.40), up 92.3 per cent from the launch.
Divesting the state ownership in Sabeco is a hot topic for investors, especially foreigners. To date, several foreign breweries have admitted to eyeing Sabeco since it was earmarked for equitisation, such as San Miguel, Heineken, SABMiller, Thai Beverage Public Company Limited (Thai Beverage), Japanese Asahi Group Holdings Ltd., and Kirin Holdings Co.
Sabeco is the largest brewer in Vietnam. The firm currently owns 24 manufacturing plants with a total designed capacity of 1.8 billion litres per year, 20 of which are in operation, while the remaining four are expected to come into operation in the near future.View more random threads:
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