Sabeco lifts VN-Index over 945 points
Sabeco lifts VN-Index over 945 points
Strong growth for Viet Nam’s largest brewer Sabeco (SAB) helped lift the VN-Index over 945 points on Wednesday morning, up 0.48 per cent over Tuesday’s close.
On Wednesday morning, the Ministry of Industry and Trade (MoIT) announced information, expected by investors, of its upcoming State stake selling in Sabeco, including the date of the auction, of the share sale and the minimum bidding price.
The detailed plan helped lift Sabeco's (SAB) shares up 4.7 per cent, to VND335,000 (US$14.69) per share, higher than MoIT’s offer price of VND320,000 per share during the share sale.
The positive spillover spread to another major brewer on the Hà Nội -- Habeco (BHN) -- which also hit the daily limit rise of seven per cent at VND144,400 per share on the HCM Stock Exchange.
Other blue chips such as FPT Corp (FPT), Sacombank (STB), Saigon Securities Inc (SSI), VPBank (VPB), Mobile World Group (MWG), Bao Viet Holdings (BVH) and BIDV (BID) also gained value.
Overall market condition was, however, neutral with 127 stocks rising, 125 falling and 94 remaining unchanged.
A total of 122.6 million shares worth VND2.63 trillion ($115.4 million) were traded on HCM City’s market.
On the Ha Noi Stock Exchange, the HNX-Index edged up 1.36 per cent to 113.02 points with 62.6 million shares worth VND857 billion traded.
Afternoon trade starts at 1pm.
