Ministry proposes to tightly supervise Sabeco stock transactions

The Ministry of Industry and Trade has proposed the Ministry of Public Security, State Securities Commission of Vietnam and HCMC Stock Exchange to keep a close eye on SBA stock transactions of Saigon Beer Alcohol Beverage Corporation (Sabeco).
In an announcement yesterday, the ministry said that the move aimed to spot and prevent unusual transactions, ensuring the market to operate stably and transparently until December 31 when state capital withdrawal from Sabeco will start.
At present, the ministry is rushing to prepare for the capital withdrawal.
According to the ministry’s project, Sabeco shares will be offered for sale to eligible domestic and foreign individuals and organizations. That will be similar to the way which State Capital Investment Corporation has sold state shares at Vietnam Dairy Products Joint Stock Company (Vinamilk).
The value of Sabeco share sale is forecast to reach tens of thousands of billions of Vietnamese dong.
Last year, the corporation’s revenue reached VND30,666 billion (US$1.35 billion), which is 2.5 time higher than that of Hanoi Beer Alcohol and Beverage Corporation (Habeco). After tax profit of Sabeco was VND4,655 billion ($205 million), up 33 percent over 2015.

By VAN PHUC – Translated by Hai Mien

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