Viettel collects VND527.7 billion ($22.77 million) from the divestment of Viettel Post

November 12, 2020 | 19:32

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Viettel has successfully sold 4.98 million shares of Viettel Post at an auction on the Hanoi Stock Exchange on November 11, collecting VND527.7 billion ($22.94 million) in proceeds.

viettel collects vnd5277 billion 2277 million from the divestment of viettel post

Viettel has reduced its ownership in Viettel Post by 8 per cent

12 organisations and one individual have won the auction with the average price of VND105,907 ($4.60) per share. 3.8 million out of 4.98 million shares were sold to foreign investors.

With the divestment, Viettel Post has reduced its ownership ratio at Viettel Post from 68 to 60 per cent.

Set up in 1997, Viettel Post operated in the express delivery field. After 20 years of operation, it has become the second-largest contender in the Vietnamese postal industry, after Vietnam Post. Its network extends to all 63 cities and provinces nationwide. It has more than 2,200 post offices or shops and more than 6,000 transaction offices.

In the first nine months of this year, Viettel Post achieved a revenue of VND11.6 trillion ($504.35 million), double last year's period. Its profit also increased by 15 per cent to VND307 billion ($13.35 million). In 2020, the company aimed to achieve a revenue of VND19.2 trillion ($834.8 million) and profit of VND459 billion ($19.96 million).

By Thanh Van

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