Business

Ministry gets nearly VND101 trillion from Sabeco divestment

SGGP
The Ministry of Industry and Trade has received VND109,972 billion (US$4.8 billion) after the successful share auction of Saigon Beer, Alcohol and Beverage Corporation (Sabeco) in HCMC Stock Exchange yesterday afternoon.

Investors follow Sabeco share auction results on December 18

Investors follow Sabeco share auction results on December 18

The auction was attended by two investors including Vietnam Beverage, which is said belonging to Thai Beverage Public Company Limited (ThaiBev), and an individual who is Mr. Ngo Vinh Hien.
In the end, the individual bought 20,000 shares at the price of VND320.500 a share and the company purchased 343.66 million stakes at VND320,000 per share.
Sabeco shares (SAB) were sold at the price higher than market price. Closing the trading session on December 18, it was priced VND309.200 a share.
The deal has made Vietnam Beverage to be the largest shareholder of Sabeco with an over 53 percent stake.
Vietnam Beverage was established in Vietnam this year with 49 percent chartered capital being owned by Hong Kong based BeerCo Ltd, a subsidiary of ThaiBev Company of Thai billionaire Charoen Sirivad-hanabhakdi.
The legal representative of Vietnam Beverage is Singaporean national Michael Chye Hin Fah, member of the board of directors of Vietnam Dairy Products Joint Stock Company (Vinammilk).

By HANH NHUNG – Translated by Hai Mien

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