Mobile retailer plans listing on City stock exchange

Mobile retailer plans listing on City stock exchange

The shares of Dau Tu The Gioi Di Dong Jsc, (Mobile World Investment Corporation or MWI Corp) will be officially traded on the HCM City Stock Exchange from July 14.

This was announced by the southern bourse on Monday.

MWI Corp will be listed as MWG and its shares will be priced at VND68,000 or US$3.2 per share, with a vibration amplitude of 20 per cent.

With 62.72 million shares listed, the market capitalisation of MWI Corp will initially be VND4.264 trillion ($200.18 million).

Currently, MWI Corp has four major stakeholders, each having holdings of more than 10 per cent: two founders with holdings of 17 per cent and 18.7 per cent; CDH Electric Bee Limited with 18.8 per cent; and Mekong Capital with 14.3 per cent.

MWI Corp expects to reach a turnover of more than VND13 trillion or $619 million this year, an increase of 37.1 per cent over last year with the after-tax profit being VND435 billion or $20.7 million, up 68.3 per cent.

Last year, MWI Corp earned VND9.498 trillion or $452.2 million in turnover and VND258 billion or $12.2 million in net profit.

The company was founded in March 2004 and has been involved in trading and repairing of mobile phones, digital devices and e-commerce.

The Gioi Di Dong (Mobile World), which runs the store chain known as thegioididong.com , has a 25 per cent share of Viet Nam's mobile phone market. The company plans to increase its market share to reach 35 to 40 per cent in 18 to 24 months.

Another MWI Corp member, The Gioi Dien Tu (Electronics World), runs dienmay.com.

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