Sabeco brews up plan to list shares on HOSE

VNStockNews.com - Beverage industry giant Sabeco plans to list shares on the HCM City Stock Exchange (HOSE) this year, after selling 20 per cent of its State-owned stakes to strategic partners.

This is a part of the corporation’s business target this year, of which they also scheduled a turnover of VND16.5 trillion ($891.8 million), beating last year’s data 15.4 per cent. Meanwhile, the corporation projected VND2.31 trillion ($124.9 million) of pretax profit, up 56 per cent from last year.

Reinforced investment to promote infrastructure and equipments at beverage factories, as well speeding up projects of beverage factories,... were inclusive to reach the target, said the corporation.

Sabeco made an intial public offering (IPO) in March 10, 2008, selling 60 per cent stakes among 128.26 million offered shares in the bid, at a winning average price of VND70,003 a piece (US$4.38). The corporation so far hasn’t inked deals with any strategic partner, and their listing hasn’t been implemented yet.

The corporation now has a charter capital of more than VND6.4 trillion (US$346 million) with the State holding nearly 80 per cent.

Last year, Sabeco earned VND1.479 trillion in profits, a 46 per cent year-on-year growth. Based on this growth, they announced a dividend payment at 12 per cent in cash and payment will begin March.