MobiFone to launch IPO on April 24

March 24, 2016 | 10:21

(0) user say

Mobile network provider MobiFone plans to sell its shares at the Southeast Asia Commercial Joint Stock Bank (SeABank) and TienPhong Commercial Joint Stock Bank (TPBank) on April 24.

Transactions are being taken at Mobifone. The firm will sell its shares at SeABank and TPBank on April 24. - Photo VNA

Accordingly, MobiFone will sell all its 33.4 million shares at SeaBank for an opening price of VND9,600 (US$0.43) per share and 14.28 million shares at TPBank at VND8,900 each at a Ha Noi Stock Exchange auction.

The firm expects to earn at least VND447 billion from the sale.

After the auction, MobiFone won't hold any share at SeABank, but it will still hold 4.76 per cent of the shares at TPBank.

MobiFone completed divestment from advertising company SmartMedia JSC and information technology Neo JSC in 2015.

Earlier this year, MobiFone announced the acquisition of a 95 per cent stake in Audio Visual Global JSC (AVG) to prepare for its focus on four main areas of mobile, TV, retail sale and media.

MobiFone earned VND36.9 trillion in revenue in 2015, an increase of 8.29 per cent over 2014, while profits rose 1.1 per cent to touch VND7.4 trillion.

It also aims to earn VND35.8 trillion in total revenue in 2016, 10 per cent higher than in 2015, and a profit of VND5.2 trillion.

MobiFone expects to earn VND20 trillion from its initial public offering this year.

VNS

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional