MWG announces billion-dollar employee stock ownership plan
MWG announces billion-dollar employee stock ownership plan
The company will issue nearly 20 million ESOP shares, valued at over VNĐ1.1 trillion (US$44 million), based on the closing stock price of VNĐ55,200 per share on February 14.
A Mobile World Investment Corporation store in Hàng Bài District, Hà Nội. — VNA/VNS Photo |
Mobile World Investment Corporation (MWG), one of Việt Nam’s leading retail giants, has announced a major Employee Stock Ownership Plan (ESOP) this year.
The company will issue nearly 20 million ESOP shares, valued at over VNĐ1.1 trillion (US$44 million) based on the February 14 closing stock price of VNĐ55,200 ($2.17) per share.
MWG’s ESOP programme is aimed at retaining and incentivising key employees, including senior executives, managers and top-performing staff. The issuance represents 1.36 per cent of MWG’s total outstanding shares and follows a 155 per cent achievement of 2024’s profit after tax target.
The company has set a preferential price of VNĐ10,000 per share for eligible employees, a significant discount from the market price. However, the shares will be subject to a two-year lock-up period, meaning recipients cannot sell their shares during this time.
MWG’s Board of Directors and non-executive members are excluded from the ESOP programme, ensuring that the initiative primarily benefits operational employees.
The company had a strong financial comeback in 2024, reporting a net revenue of VNĐ134.34 trillion, a 14 per cent increase from the previous year. More impressively, profit after tax surged to VNĐ3.73 trillion, a 22-fold increase from 2023.
Looking ahead, MWG has set ambitious financial targets for 2025, with a revenue goal of VNĐ150 trillion, up 12 per cent year-on-year, and profit after tax target of VNĐ4.85 trillion, up 30 per cent year-on-year.
These figures indicate confidence in continued market expansion, operational efficiency and strategic initiatives, including the ESOP programme.
