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.
Hanoi (VNA)✨ - 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.
Accordingly, MobiFone will sell all its 33.4 million shares at SeaBank for an opening price of 9,600 VND (0.43 USD) per share and 14.28 million shares at TPBank at 8,900 VND each at a Hanoi Stock Exchange auction.
The firm expects to earn at least 447 billion VND from the sale.
After the auction, MobiFone won't hold any share at SeABank, but it will still hold 4.76 percent 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 percent 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 36.9 trillion VND in revenue in 2015, an increase of 8.29 percent over 2014, while profits rose 1.1 percent to touch 7.4 trillion VND.
It also aims to earn 35.8 trillion VND in total revenue in 2016, 10 percent higher than in 2015, and a profit of 5.2 trillion VND.
MobiFone expects to earn 20 trillion VND from its initial public offering this year.-VNA
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Transactions taken at Mobifone (Source: VNA)
