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Beverage giants urged to list
The nation’s two leading beverage bottlers, Habeco and Sabeco, should list shares on the nation’s stock markets, proposes the Viet Nam Association of Financial Investors (VAFI).
The association appealled to the Ministry of Industry and Trade – which manages the controlling State interests in these two firms – to respond to the growing demand of investors.
"The stock market is currently in need of good stocks like Habeco, Sabeco and Vietcombank," said association secretary general Nguyen Hoang Hai. "These former State-owned enterprises have completed equitisation and long since made their initial public offerings, but transactions in their shares have remained on the over-the-counter market for a long period, to the detriment of their shareholders."
With securities transactions showing signs of life and suggesting a long-term rally, the time was right to list shares in these enterprises, Hai said.
In April, the Ministry of Industry and Trade agreed that Habeco and Sabeco shares would lure more capital into the stock market, with their strong financial capacity and steady profits.
"However, the present status of the stock market, and a VN-Index worth only 30 per cent of its peak value in 2007 when these enterprises made their IPOs, may not be enough to ensure the success of a listing at this time," the ministry said in a reply sent to the association late last month.
Trading in these shares was conducted mostly by the corporation’s staff, with shares changing hands in small quantities and at a low price. "So, it would be hard to set a fixed price for listing these shares, based on these transaction activities," said the ministry.
The ministry pledged to work with the management boards of these two corporations to list their shares as soon as possible.
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