28 March, 2007

Vietnam: Sabeco to sell 20% of stake in August

The Saigon Beer, Alcohol and Beverage Corp or Sabeco will sell a 20% stake in August this year, Vietnam Economic Times reported March 26.

The Industry Ministry established an equitization board for Sabeco and is expected to auction shares in August. The equitization plan was approved by Vietnam Prime Minister and Industry Ministry

Under the approval, the state will hold 80% and 20% will be floated on bourse, said Nguyen Quang Minh, director of Sabeco Corporation.

Foreign investors are keen to buy shares in Vietnam beer producers. The Hanoi Beer, Alcohol and Beverage or Habeco will also equitize in 2007

Minh said beer production grows by 10%, but remains at a modest level compared with regional and global markets

Foreign investors see great potential in Vietnam's beer market; however, it will be full of risk, even waste of state-owned capital if lacking state guidance

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