Friday , March 29 2024

Mobile World to double charter capital with bonus issuance


Electronics retail giant Mobile World is set to double its charter capital by issuing nearly 732 million bonus shares to existing shareholders at a rate of 1:1.

The company also plans to sell a maximum of 20 percent stake in its grocery retail chain, Bach Hoa Xanh, to the highest bidder.

It wants to expand the predominantly southern chain nationwide. It currently holds a 99.95 percent stake in the chain.

Mobile World has appointed a new CEO, Tran Huy Thanh Tung, in place of Tran Kinh Doanh, who quit recently for personal reasons.

It targets a 14-percent increase in revenues this year to VND140 trillion ($6.04 billion), and a 30-percent rise in post-tax profits to VND6.35 trillion.

Mobile World announced a partnership with an Indonesian company in March to establish PT Era Blue Elektronik.

It wants to make it the top electronics retail chain in Indonesia and list it on a stock exchange there in five years’ time.

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