Saigon Beer, Alcohol and Beverage Corporation (Sabeco)’s shares increased by the maximum allowed in a day on the Ho Chi Minh City Stock Exchange (HoSE) on the first transaction day, according to newswire Tuoitre.
Notably, from a reference price of VND110,000 ($4.9), the SAB ticker opened the day already at VND132,000 ($5.84), a 20 per cent increase from the get-go.
Only slightly over 3,000 Sabeco shares changed hands on the first transaction day, but the impressive increase in price agained proven investors’ appetite for Vietnam’s biggest brewer.
Sabeco currently ranks among the top five enterprises on the HoSE in terms of capitalisation. The preceding four are legendary dairy producer Vinamilk, PetroVietnam Gas, Vietcombank, and real estate developer Vingroup.
Sabeco’s listing also made the share value of its subsidiaries and associated companies soar.
Notably, Saigon-Phu Tho Beer JSC (BSP)’s shares increased by VND25,700 ($1.14) to VND48,500 ($2.15) apiece at the transaction day of November 10. In the 10 months of this year, BSP earned VND376.8 billion ($16.67 million) in revenue and VND26.8 billion ($1.86 million) in after-tax profit, signifying increases of 18.2 and 10.3 per cent, respectively.
Meanwhile, the shares of Saigon Beer Western JSC (WSB) increased by VND49,900 ($2.21) to VND94,000 ($4.16) apiece at the transaction day of December 5. In the first nine months of this year, WSB’s revenue and after-tax profits amounted to VND638.5 billion ($28.25 million) and VND74.4 billion ($3.92 million), up 11.9 and 5.8 per cent, respectively.
Being Vietnam’s largest brewer, Sabeco currently has 24 beer production factories across the country, with a total capacity of 1.8 billion litres per year.
In the 11 months of this year, the corporation’s consolidated revenue reached VND28.3 trillion ($1.25 billion) with the pre-tax profit of VND5.035 trillion ($222.78 million).
By By Ha Vy