Beer drinkers in Vietnam may have a little more to celebrate as the local brew – Saigon Beer Alcohol Beverage JSC (Sabeco) has officially posted its 641,281,186 shares at the HCMC Stock Exchange (HOSE) under the code SAB.

The shares are traded at the starting price of VND 110,000 per share (about US$ 4.80) and by the end of the first trading day, Sabeco stocks have jumped to its maximum of 20 percent up to VND 132,000 per share.

This news has excited local and foreign investors, many of whom have been waiting for further shares to become available since Sabeco initial public offering in 2008. Both events are considered separate in Vietnam.

Sabeco’s market value has also increased to 83.4 trillion dong (about US$3.6 million). This market capitalization ranked the company as the fifth largest listed firm on HOSE behind dairy firm Vinamilk (VNM), Vietcombank (VCB), Vietnam Petrol Gas Corp (GAS) and the Vingroup (VIC).

Sabeco is the state-owned maker of Saigon Beer and 333 Beer and with this event, the second largest consumer company after Vietnam Dairy Products JSC on the exchange. It’s also the largest brewer in Vietnam, where brewing Vietnam’s biggest labels “Saigon”, has reported a sales revenue of VND 21.8 trillion for the first 9 months of 2016, an increase of 9 percent year on year.

With this listing in HOSE, it 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.

“Sabeco’s listing is a positive and important step for a country that is embracing and liberalizing its own corporation,” said Federico Parenti, a Milan-based fund manager at Sempione Sim Spa, “The listing will be successful because the market is hungry for these type of businesses.”

In fact, seven companies including Heineken NV, Anheuser-Busch InBev NV and Asashi Group Holdings Ltd. have already registered to bid for Sabeco.

The outlook on Vietnam beer market is an enthusiastic one as demand for beer is expected to continue growing in Vietnam in light of its population increases and the expansion of Vietnam middle class.

VN Express even estimates the thirst for Saigon beer to increase by 30 percent during the upcoming Lunar New Year holiday, to a projection of 40 million liters of beer.

By Vivian Foo, Unicorn Media