Tuesday, April 22, 2008

Hanoi brewer approved to shares to Carlsberg

State-owned Hanoi-Beer-Alcohol-Beverages Corp., got approval from Deputy Prime Minister Nguyen Sinh Hung to sell shares to Carlsberg A/S, according to a statement posted on the company’s website April 18.
Carlsberg will be able to buy the shares the Hanoi-based brewer, known as Habeco, wasn’t able to sell in an initial public offering on March 27.
The government raised only VND198.5 billion (US$12.3 million) from the share sale compared with the VND1.74 trillion ($108 million) the company had anticipated.
Of the 34.8 million shares on offer, bids were made for only 4 million.
“Carlsberg is permitted to increase its stake about 16 percent beyond the 10 percent agreed on earlier,’’ Chairman Le Ba Co said Monday in Hanoi.
The biggest Danish brewer will buy the shares at VND50,000 ($3.10) each, Vietnam Television reported last month.
The purchase will probably be completed this month, Co said.
“It should be sold in April as we plan to hold a shareholder meeting in May,’’ he said.
Habeco’s March 27 auction is the next planned IPO, following share sales earlier this year by Vietcombank and Saigon Beer-Alcohol-Beverages Corp
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