Shares climb on state stake divestment plan in brewer Sabeco

14:14 | 03/07/2020

Shares climbed on Friday morning mainly thanks to a strong boost from brewery company Sabeco (SAB) as the State plans to divest its entire remaining capital in the firm.

shares climb on state stake divestment plan in brewer sabeco
State capital at Việt Nam’s top brewer Saigon Beer Alcohol Beverage Corp (Sabeco) will be soon transferred to the State Capital Investment Corporation (SCIC). - Photo cafef.vn

The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) gained 0.46 per cent to close at 846.28 points.

The index had lost 0.13 per cent on Thursday to close at 842.38 points.

Large-cap stocks pulled the market up as the blue chip tracker VN30-Index increased by 0.45 per cent to 789.14 points.

Sixteen of the 30 largest stocks by market capitalisation and trading liquidity in the VN30 basket rose while five decreased.

Among gaining large-caps were FPT Corporation (FPT), HDBank (HDB), Novaland (NVL), Vingroup (VIC), Vinhomes (VHM), Vinamilk (VNM), Vincom Retail (VRE) and giant brewery company Sabeco (SAB).

State capital at Việt Nam’s top brewer Saigon Beer Alcohol Beverage Corp (Sabeco) will be soon transferred to the State Capital Investment Corporation (SCIC).

The government has set the deadline by August 31 for the transfer of 36 per cent of state capital in Sabeco from the Ministry of Industry and Trade to SCIC.

On the Ha Noi Stock Exchange, the HNX-Index also rose 0.06 per cent to close Friday morning at 111.67 points.

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