MEF II sells 2.5m Mobile World shares
MEF II sells 2.5m Mobile World shares
Mekong Enterprise Fund II, or MEF II, announced the successful sale of 2.5 million shares of Mobile World (MWG) on July 9.
After the sale, MEF II's ownership of MWG fell from 10.94 to 9.24 per cent, equal to 13.54 million shares in the technology firm.
The fund also became the largest shareholder of MWG after World Retail Investment Consulting Limited Company with its 13.18 per cent of shares.
According to statistics from the HCM Stock Exchange on July 8, the entire 2.55 million shares of MWG, worth VND344.4 billion (US$15.3 million), were traded when the shares ended at VNÐ130,000 each. So, at the lowest intraday trading price of VND129,000 during the day, MEF II could earn at least VND322.5 billion.
In the first six months of this year, MWG shares soared 64.5 per cent from VND79,000 to VND130,000.
The MEF II fund, managed by Mekong Capital, was one of the earliest institutions to invest in MWG since 2007. It was once the largest shareholder, with ownership of over 30 per cent.
