Economy
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| Võ Thanh Hà, Sabeco’s chairman, beats the gong to open trading at the Hồ Chí Minh Stock Exchange on December 6. — VNS Photo |
Viet Nam News
HCM CITY — More than 641.28 million shares of the Sài Gòn Beer, Alcohol and Beverage Corporation were listed yesterday on the Hồ Chí Minh Stock Exchange.
The reference price was VNĐ110,000 (US$4.8) and it did not take long for the share to hit the day’s ceiling price of VNĐ132,000 and remain there.
With almost no one seeking to offload the shares, only 3,010 were traded during the session.
Sabeco has a charter capital of over VNĐ6.41 trillion and market capitalisation on the opening day of VNĐ70.5 trillion, making it one of the five largest listed firms in Việt Nam.
It is the largest beer producer in the country with a 41 per cent market share last year as sales topped 1.46 billion litres.
In the first 11 months of this year Sabeco’s pre-tax profit was VNĐ5.035 trillion, up 12.2 per cent year-on-year, on revenues of VNĐ28.3 trillion, up 11.3 per cent.
Võ Thanh Hà, the company’s chairman, said besides focusing on expanding its distribution system in the domestic market, the company was also keen to promote exports.
Sabeco’s products are available in more than 27 countries and territories in the world, including choosy markets like the US, EU, Japan, and Australia, he said.
Beer consumption in Việt Nam reached 3.8 billion litres last year, and the industry expects annual growth of 4 - 5 per cent in the next five years, according to the Việt Nam Beverage Association. — VNS
