VIETNAM: Sabeco IPO fails to hit target
Saigon Beer Alcohol Beverage Corp (Sabeco) has seen its IPO fall short of the company's target.
Sabeco said earlier this week that the initial public offering raised VND5.49 trillion (US$341m), making up only 61% of what the company had hoped to raise. A total of 78.4m of the 128.3m shares that were offered were sold, at an average price of VND70,003 each, holding steady from the VND70,000 starting price initially set for bids.
The 128.3m shares on offer represented around 20% of Sabeco's shares. Foreign investors acquired 6.9m of the 78.4m shares, the company said in a filing to the Ho Chi Minh Stock Exchange.
With IPOs and trading openings treated as separate matters in Vietnam, Sabeco said it intends to list its shares in Ho Chi Minh later this year.
Reports out of Vietnam last month said that Sabeco has approached a raft of international brewers, including Anheuser-Busch and InBev, with a view to taking a strategic stake in the company. The state-owned brewer currently accounts for around a third of Vietnam's fast-growing beer market.
I remember writing about four years ago that the level of media attention in the UK being levelled on obesity may temper the threat of potential regulation of the alcohol industry as legislators sharp...
The consultation launched by the UK government this week represents a strong indication that it has lost patience with the drinks industry, and is moving towards introducing mandatory measures to repl...
Given the consolidation trend in the global beer market it was not likely to be that long before another mega-deal came along. InBev's move for US giant Anheuser-Busch was not unexpected though the co...
Ten facts about Anheuser-Busch:...
The top ten most visited stories on just-drinks this week:...
SABMiller has launched a new website, which, the company claims, acts as "a comprehensive guide to alcohol" for consumers....
Two cider brands in the UK have been found in breach of the Portman Group's code of practice on the naming, packaging and promotion of alcoholic drinks....
Beam Global Spirits & Wine is relaunching its Drink Smart website in a multi-lingual format....
- The end is nigh for Global Travel Retail - Comment
- Interview, Bulldog Gin founder Anshuman Vohra
- Pernod Ricard's Q1 results - Preview
- Five ways small brands can beat big players
- A Keeper of the Quaich writes - Editor's Viewpoint
- Diageo most at risk to Thai alcohol ban - analyst
- Constellation sells Canadian wine unit for US$761m
- Jobs at new India hub won't affect staff - Diageo
- Stumbling UK Pound prompts Conviviality price hike
- Pernod Ricard cheers US move to ease Cuban limits
- Global gin insights - market forecasts, product innovation and consumer trends
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global rum insights - market forecasts, product innovation and consumer trends
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- Global RTD insights - market forecasts, product innovation and consumer trends