The brewer will also contribute an estimated VND5.37 trillion (US$214.8 million) to the State budget.

Ending 2017, Habeco reported total revenue of nearly VND7.8 trillion (US$311.2 million) and paid more than VND4.8 billion (US$192.5 million) into the State coffer. 

Headquartered in Hanoi, Habeco is the largest beer producer in the North and the third-largest beer company in the country, with popular brands such as Hanoi Beer and Truc Bach Beer. It owns 17 subsidiaries and six affiliated companies, with total production capacity of over 800 million litres of beer per year.

The corporation will list 231.8 million shares, equivalent to the total listing value of about VND2.32 trillion (US$103 million), on the Ho Chi Minh Stock Exchange (HOSE) on January 19.

Shares of the North’s largest brewer are trading at some VND128,000 per share on the Unlisted Public Company Market (UPCoM), which is under the management of the Hanoi Stock Exchange.

By changing its listing to HOSE, which is the main bourse in Vietnam, with total market capitalisation of some US$68 billion, Habeco is expected to improve its reputation and draw more investments.

The company has become a ‘phenomenon’ on the UPCoM since its debut on October 28 last year, when its price shot up from an initial VND39,000 per share to a peak of VND225,800 per share on December 16.