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Foreign investors pour VND1.5 trillion into Mobile World

Foreign investors have spent VND1.5 trillion to buy MWG shares of The Gioi Di Dong Investment JSC (Mobile World) as prices hover around the historic peak.

 

The MWG closing price on April 15 was VND160,200 per share. As such, the MWG market price has increased by 17 percent since the beginning of the year, while the market is flat. Its capitalization value has reached a record high of VND117.27 trillion, or 80 percent higher than one year ago.

Foreign investors bought more than sold with strong disbursement of MWG shares. The funds managed by Dragon Capital announced that they acquired 3.83 million MWG shares on April 15. With the closing price of VND160,000 per share on April 15, the total amount of money the funds paid was VND600 billion.

Hanoi Investments Holdings Limited also bought back 1 million shares sold one day before. 

Mobile World has publicized documents for its 2022 shareholders’ meeting which said that its revenue in 2021 reached VND140 trillion, an increase of 14 percent over the same period last year and post-tax profit of VND6.4 trillion, up by 30 percent.

The company plans to pay dividends in cash, VND1,000 per share, which means a dividend yield of 0.7 percent, and will pay dividend in shares with a 1:1 ratio, which means that shareholders will receive one more share for every share they are holding. 

Mobile World has publicized a resolution of the board of directors about the establishment of Bach Hoa Xanh Technology and Investment, a subsidiary with  charter capital of VND10 billion.

MWG has shown its ambition to enter the Indonesian market when announcing strategic cooperation with Erajaya Group to set up a joint venture - PT Era Blue Elektronik (Era Blue).

Another big retailer, FPT Retail, has also set big goals for 2022: VND27 trillion in revenue and VND720 billion in pre-tax profit, which means growth rates of 20 percent and 30 percent, respectively, compared with 2021.

The company plans to continue to expand its network in 2022 with the total number of FPT Shops expected to reach 717 by the end of 2022 (it was 647 by the end of 2021), and 700-800 Long Chau drug stores (400). 

Also, it plans to expand the coverage of FPT Shop and laptop centers. It is expected that FPT Retail will open 70 more laptop centers, and 70-100 FPT Shops will increase coverage in populous districts. 

Phu Nhuan Jewelry, which organized the 2022 general meeting of shareholders some days ago, plans to obtain VND25.835 trillion in net revenue in 2022, up by 32 percent, and VND1.32 trillion in post-tax profit, up by 28 percent.

M. Ha

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