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Habeco to raise $109 mln in share sale
Hanoi-Beer-Alcohol-Beverages Corp., a state-owned brewer, is planning its initial share sale next month, Chief Executive Officer Nguyen Van Viet said, aiming to raise at least VND1.74 trillion ($109 million).
The Hanoi-based company, known as Habeco, will sell 34.8 million shares at an auction with a minimum bid of VND50,000, according to an announcement filed to the Hanoi Securities Trading Center.
Habeco is betting the price will attract investors in a market where the benchmark index has fallen 16 percent this year, and where bigger rival Saigon Beer-Alcohol-Beverages Corp. drew bids for only 61 percent of the stock it offered last month.
Habeco’s share sale was initially planned for January, Dau Tu Chung Khoan magazine reported.
“The starting price is reasonable, and we forecast that we will sell all the shares,” Hanoi-based Viet said in a telephone interview Monday, without being more specific on the valuation.
Thanhnien
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