Danish brewery giant, Carlsberg, may be able to secure more than the 10 percent stake reserved for it in the initial public offering of state-owned Vietnamese brewer Habeco, the Danish brewer said on Thursday.
Habeco, Vietnam’s second-largest brewer, planned to raise at least $108 million from selling an additional 15 percent of its shares in the IPO, but Carlsberg said the brewer’s offering had not been fully subscribed.
“We have had 10 percent of the shares reserved for us, but it looks as if we can get more shares as the IPO has not been fully subscribed,” said Henrik Andersen, the Director of Vietnam-based Carlsberg joint venture South East Asia Brewery Ltd.
“The IPO deadline is today, so we won’t know the exact result until tomorrow,” Andersen added.
Last year, Vietnamese authorities approved plans by Habeco and Carlsberg to form a strategic partnership under which Carlsberg had the 10 percent stake reserved.
Habeco has not said when it plans to list its shares as stock market debuts are separate from IPOs in Vietnam.
Habeco, or the Hanoi Beer Alcohol Beverage Corp, ranks second after Saigon Beer Alcohol Beverage Corp or Sabeco.
Habeco in February delayed its IPO due to adverse market conditions after Sabeco in January only sold 61 percent of the shares it had planned to sell in its IPO.
“As the strategic partner of Habeco, we are interested in close cooperation and in boosting our stake in the brewery, but this depends of course on the price,” Andersen said.
(Writing by Kim McLaughlin, Original source: Reuters)