Friday, August 18,2017 - 19:32 GMT+7  Việt Nam EngLish 

Sabeco seeks to sell State stake soon 

 Thursday, April 20,2017

The board of Sabeco, the country’s leading brewery, has asked the Ministry of Trade and Industry to sell the State stake at Sabeco soon to turn the enterprise into a public company.

The stake will be put up for auction on the local stock exchange, Sabeco said. A consultant will be chosen to draw up a divestment plan, said Sabeco chairman Vo Thanh Ha at the corporation’s annual general meeting on April 18.

In response to a question on the divestment roadmap, Le Hong Xanh, a member of the board, said the Ministry of Industry and Trade had sent a divestment plan to the Government. Meanwhile, chairman Ha said he had just received a dispatch on capital divestment from the ministry

Sabeco has been listed on the Hochiminh Stock Exchange. However, the ministry still held an 89.59% stake in the brewery by late last year.

Sabeco’s total beer sales amounted to 1.65 billion liters last year, 6.9% higher than the full-year forecast and 8.3% more than the previous year.

Sabeco reported total consolidated revenue of over VND31.75 trillion, 11% higher than estimated, and up 13% against 2015. Its after-tax profit reached some VND4.7 trillion, growing 33% over 2015 and beating the full-year target by  28%. The dividend was 30%.

Source:  thesaigontimes.vn

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