Mobile World to list 62.7m shares
Mobile World to list 62.7m shares
The The Gioi Di Dong (Mobile World) Corporation on June 26 announced that it would soon list more than 62.7 million shares on the HCM City Stock Exchange at the price of VND85,000 (US$4) per share.
Nguyen Duc Tai, CEO of Mobile World, said that they are waiting for official approval, and then would choose the day for their initial public offering (IPO).
"The IPO will be late this month or in July," he said, adding that the stock ticker would be listed as MWG.
According to Tai, after the IPO, the corporation will continue to expand by opening more stores in big cities.
Many mega stores with revenue of about VND15 billion ($714,000) per month each will be opened.
Online sales will also expand, and the corporation will open new retail chains for new product categories.
At the seminar that called for investments shares in Mobile World Corporation on June16, the company announced that in the first quarter of this year, company revenue reached VND3.5 trillion ($166 million), a surge of 70 per cent year-on-year.
The company said 2014 would be a fruitful year as profits for the first five months of this year had exceeded the figure of the entire year of 2013.
Founded in 2014, Mobile World is the biggest mobile retailer in the country.
It has opened stores in all the provinces and cities, under the two chains thegioididong.com and dienmay.com.
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