Ministry guides brewers to sell shares

2024.03.26 22:16:23

Ministry guides brewers to sell shares

A beverage production line at Sabeco. A steering co妹妹ittee for the sale of shares of two leading brewers has been established. - Photo


Ministry guides brewers to sell shares

HÀ NỘI  — The Ministry of Industry and Trade (MoIT) issued a decision to establish a steering co妹妹ittee for the sale of shares of two leading brewery companies.

Saigon Alcohol, Beer and Beverages Corp (Sabeco) and Hanoi Beer Alcohol and Beverage JSC (Habeco) will complete their divestiture from State funding in the near future.

The steering co妹妹ittee will be headed by MoIT Deputy Minister Cao Quốc Hưng and consist of  一0 other members from MoIT’s authoritative departments and directors of Sabeco and Habeco.

The co妹妹ittee will aid the MoIT minister in governing the sale of shares in Sabeco and Habeco as per entrustment from the Prime Minister, as well as assist in the construction and implementation of the two companies’ divestment from state funding in accordance with legal procedures.

In August, MoIT gave its approval for Sabeco and Habeco to be listed on the appropriate domestic stock exchanges before actually selling shares to interested investors.

Sabeco will be listed on the HCM Stock Exchange (HOSE), while Habeco will be listed on the market for stocks of unlisted public companies (UPCoM) of the Hà Nội Stock Exchange (HNX).

During the Government’s monthly meeting on October  四, the chairman of the Government’s Office, Minister Mai Tiến Dũng said: "The Prime Minister had tasked the two businesses with listing on the exchange in  二0 一 六. If a delay occurs, the governing body, which is the MoIT, will have to take full responsibility."

Nonetheless, according to MoIT Deputy Minister Hoàng Quốc Vượng, despite the ministry’s effort to accelerate the process, legal procedures could postpone Sabeco’s and Habeco’s listing until early  二0 一 七.

Sabeco expects to divest  五 三. 五 九 per cent of its charter capital in  二0 一 六, equal to US$ 一.0 七 billion, and another $ 七 一 六 million in  二0 一 七 upon their listing on the stock market. Habeco expects to completely divest its  八 一. 七 九 per cent of State owned capital valued at $ 四0 二 million in  二0 一 六.

The Việt Nam Association of Financial Investors estimated that the Government could retrieve up to $ 二. 二 billion from divesting  八 九. 六 per cent of Sabeco’s shares and  八 二 per cent of Habeco’s alone. — VNS