Vietnam's largest brewer Sabeco is reportedly planning to sell 20% of its shares in an IPO.

"A public auction is projected in August, so when the firm becomes a share-holding entity, the state stake will account for 80%," general director Nguyen Quang Minh told the Vietnam Economic Times.

State-owned Sabeco holds around a third of Vietnam's fast-growing beer market,

Two years ago, the Vietnamese government signed a deal with Anheuser-Busch on co-operation in the country's beer market.

The Vietnamese beer market has grown by around 15% over the last two years to 15m hectolitres and has attracted investment from SABMiller, Carlsberg and Asia Pacific Breweries.