The Saigon Beer Alcohol Beverage JSC (Sabeco) officialy posted 641,281,186 shares at the HCMC Stock Exchange (HOSE) under the code SAB, plus/minus a 20 percent trading band, this morning.
|A production line at Sabeco|
The reference price for its 1st trading day on the HOSE is estimated to reach VND 110,000 per share (US$ 4.89).
At the starting price of VND 110,000 per share, SAB's market capitalization is ranked the fifth largest listed firm on HOSE behind dairy firm Vinamilk (VNM), Vietcombank (VCB), Vietnam Petrol Gas Corp (GAS) and the Vingroup (VIC).
For the first trading day, SAB increased 20 percent from VND 110,000 per share up to VND 132,000 per share.
On December 28, 2007, the Prime Minister issued the decision No.1862/QD-TTg approving the plan to turn Saigon Beer Beverage Company into Sabeco. Its chartered capital is over VND 6,412 trillion so far.