Vietnam’s next big-ticket IPO just around the corner

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Vietnam, Asia’s number one beer drinking nation, will see its next huge initial public offering next week when Hanoi Beer Alcohol and Beverage Corp, or Habeco, one of Vietnam’s biggest brewers, will list on the Ho Chi Minh Stock Exchange on January  19.

Habeco set a starting price of 127,600 dong ($5.65) per share for the listing on the country’s biggest stock exchange, valuing the firm at $1.3 billion.

The state currently holds 81.79 per cent of Habeco, its employees 0.56 per cent, other shareholders 0.88 per cent and its strategic investor, Carlsberg, 17.08 per cent. The government said it wanted to sell its total stake, and Carlsberg is striving to extend its holding in Habeco into a majority stake.

The listing is part of the Vietnam government’s privatisation plan for state-owned enterprises. The most recent successful large listing of a state company was Vietnam Airlines which saw its IPO last November and a second equity offer on January 3, with shares surging 40 per cent on that day, valuing the firm at a total of $2.1 billion.

Another notable privatisation last year was that of the country’s largest dairy firm Vinamilk although is was botched by technical problems and regulatory shortomings.

The next big offering is expected to be the stock listing of Saigon Beer Alcohol and Beverage Corp, or Sabeco, of which 90 per cent are planned to be publicly listed later this year, worth a combined $6.4 billion.

The country’s privatisation pipeline runs up to 2020. The government intends to keep owning more than half of its biggest companies, including telcos, financial institutions and energy groups, while around 240 state-owned companies are or be privatised or reorganised.

This includes Agribank, PetroVietnam Exploration Production Corporation and Vietnam National Coal – Mineral Industries Group (Vinacomin). In addition, the country will also sell at least 35 per cent each in the Vietnam Posts and Telecommunications Group and its and its spinoff, MobiFone.

 

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Vietnam, Asia's number one beer drinking nation, will see its next huge initial public offering next week when Hanoi Beer Alcohol and Beverage Corp, or Habeco, one of Vietnam's biggest brewers, will list on the Ho Chi Minh Stock Exchange on January  19. Habeco set a starting price of 127,600 dong ($5.65) per share for the listing on the country's biggest stock exchange, valuing the firm at $1.3 billion. The state currently holds 81.79 per cent of Habeco, its employees 0.56 per cent, other shareholders 0.88 per cent and its strategic investor, Carlsberg, 17.08 per cent. The government said it...

Reading Time: 2 minutes

Vietnam, Asia’s number one beer drinking nation, will see its next huge initial public offering next week when Hanoi Beer Alcohol and Beverage Corp, or Habeco, one of Vietnam’s biggest brewers, will list on the Ho Chi Minh Stock Exchange on January  19.

Habeco set a starting price of 127,600 dong ($5.65) per share for the listing on the country’s biggest stock exchange, valuing the firm at $1.3 billion.

The state currently holds 81.79 per cent of Habeco, its employees 0.56 per cent, other shareholders 0.88 per cent and its strategic investor, Carlsberg, 17.08 per cent. The government said it wanted to sell its total stake, and Carlsberg is striving to extend its holding in Habeco into a majority stake.

The listing is part of the Vietnam government’s privatisation plan for state-owned enterprises. The most recent successful large listing of a state company was Vietnam Airlines which saw its IPO last November and a second equity offer on January 3, with shares surging 40 per cent on that day, valuing the firm at a total of $2.1 billion.

Another notable privatisation last year was that of the country’s largest dairy firm Vinamilk although is was botched by technical problems and regulatory shortomings.

The next big offering is expected to be the stock listing of Saigon Beer Alcohol and Beverage Corp, or Sabeco, of which 90 per cent are planned to be publicly listed later this year, worth a combined $6.4 billion.

The country’s privatisation pipeline runs up to 2020. The government intends to keep owning more than half of its biggest companies, including telcos, financial institutions and energy groups, while around 240 state-owned companies are or be privatised or reorganised.

This includes Agribank, PetroVietnam Exploration Production Corporation and Vietnam National Coal – Mineral Industries Group (Vinacomin). In addition, the country will also sell at least 35 per cent each in the Vietnam Posts and Telecommunications Group and its and its spinoff, MobiFone.

 

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