Vietnam’s biggest beer producer Sabeco has won government approval to list shares on the Ho Chi Minh Stock Exchange, the nation’s largest bourse, local newspapers reported on Tuesday.
State-owned Sabeco, as the Saigon Beer, Alcohol, Beverage Corp is known, is valued by the government at $2 billion and was first earmarked for privatisation in 2008. The brewer plans to select a consultant firm to advise on the listing, the official Tien Phong (Vanguard) newspaper said, citing the approval from the Industry and Trade Ministry.
Officials at Sabeco, brewer of Bia Saigon and 333 beers, were not immediately available for comment.
The brewer has received expressions of partnership interest from several major foreign brewers since it was first slated for privatisation. The selloff, however, has been repeatedly delayed.
Source: Tuoi Tre News