Vietnam mobile phone retailer sets July 14 IPO

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gioi-di-dongTop Vietnamese mobile phone retailer Mobile World said it will make its share debut on the Ho Chi Minh Stock Exchange next week with a valuation of at least $200 million.

The company, 14-per cent owned by Vietnamese fund Mekong Capital, has set a starting price of 68,000 dong ($3.20) per share for the July 14 debut, when it will list all 62.7 million shares, it said in a statement.

It was not immediately clear why Mobile World priced the debut lower than a private placement in April of 7.5 million shares at 85,000 dong each.

Mobile World, based in southern Binh Duong province, operates a mobile phone retail chain with 24 per cent of Vietnam’s market share and plans to expand its network of 213 stores in all 63 provinces.

Its debut comes ahead of the July 22 initial public offering by Vinatex, Vietnam’s top textiles manufacturer.

In Vietnam, an IPO and listing are two separate processes that can sometimes be years apart.

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Top Vietnamese mobile phone retailer Mobile World said it will make its share debut on the Ho Chi Minh Stock Exchange next week with a valuation of at least $200 million. The company, 14-per cent owned by Vietnamese fund Mekong Capital, has set a starting price of 68,000 dong ($3.20) per share for the July 14 debut, when it will list all 62.7 million shares, it said in a statement. It was not immediately clear why Mobile World priced the debut lower than a private placement in April of 7.5 million shares at 85,000 dong each. Mobile World, based in...

gioi-di-dongTop Vietnamese mobile phone retailer Mobile World said it will make its share debut on the Ho Chi Minh Stock Exchange next week with a valuation of at least $200 million.

The company, 14-per cent owned by Vietnamese fund Mekong Capital, has set a starting price of 68,000 dong ($3.20) per share for the July 14 debut, when it will list all 62.7 million shares, it said in a statement.

It was not immediately clear why Mobile World priced the debut lower than a private placement in April of 7.5 million shares at 85,000 dong each.

Mobile World, based in southern Binh Duong province, operates a mobile phone retail chain with 24 per cent of Vietnam’s market share and plans to expand its network of 213 stores in all 63 provinces.

Its debut comes ahead of the July 22 initial public offering by Vinatex, Vietnam’s top textiles manufacturer.

In Vietnam, an IPO and listing are two separate processes that can sometimes be years apart.

Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.