Southeast Asia's top market is set for another boost

HANOI (Dec 6): Vietnamese stocks, already the best-performing Southeast Asian shares in the past year, are set for another boost -- the listing of Saigon Beer Alcohol Beverage Corp. on the Ho Chi Minh City Stock Exchange Tuesday.

Sabeco, as the state-owned maker of Saigon Beer and 333 Beer, will be the second-largest consumer company after Vietnam Dairy Products JSC on the exchange and will round up the top five constituents with an indicative market value of US$3.1 billion ($4.4 billion). It’s also the largest brewer in Vietnam, where beer sales rose about 40% in the five years through 2015.

The listing will expand Vietnam’s US$77 billion stock market as it increases the size and liquidity of the benchmark VN-Index, which is poised for a fifth straight year of gains. For the government, the move is a gauge for how much it can command for its holdings in the company. The sale may be completed next year.

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