Viettel Global to list 2.24 billion plus shares
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More than 2.24 billion Viettel Global shares will make their debut on Hanoi’s unlisted public company market, UPCoM, on Tuesday.
The shares of Viettel Global Investment Joint Stock Company, with the sticker VGI, will be traded on the UPCoM at a floor price of VND15,000 ($0.65) per unit.
Viettel Global will become the largest firm on the UPCoM with market capitalization of VND33.6 trillion ($1.44 billion).
Established in late 2007 with chartered capital of VND960 billion ($41.18 million) as a unit of Viettel Group, Viettel Global covers the military group’s overseas investments.
Viettel Group holds 98.68 percent of the stake in Viettel Global.
At a general meeting in June, shareholders of Viettel Global approved a plan to increase its chartered capital to VND30.4 trillion ($1.3 billion).
In 2017, Viettel Global served nearly 40 million international customers, a growth of 13 percent from the previous year.
To date, Viettel Global makes profits in eight of the ten markets that it operates in. The eight markets are Cambodia, Laos, Timor Leste, Mozambique, Burundi, Haiti, Peru, and Cameroon. It entered Tanzania two years ago and Myanmar just this month.
Viettel Global plans to enter several new markets, mainly in ASEAN.
For this year, the company targets increasing its subscriber numbers by 10-15 per cent, bringing the cumulative population of its markets to 400 – 500 million and rank among the top 10 global telecom companies.
Viettel Global announced consolidated revenues of over VND19 trillion ($810 million) for 2017, an increase of 24 per cent year-on-year, and a net profit of VND27 billion ($1.16 million).
Questions & Answers
Q.What proportion of Viettel Global is owned by its parent company, Viettel Group?
What proportion of Viettel Global is owned by its parent company, Viettel Group?
Viettel Group holds a significant majority stake, owning 98.68 percent of Viettel Global. This indicates a strong controlling interest by the parent company in its overseas investment unit.
Q.What is the primary function of Viettel Global within the broader Viettel Group structure?
What is the primary function of Viettel Global within the broader Viettel Group structure?
Viettel Global was established to manage the military group's overseas investments. It acts as the international arm, focusing on telecom operations outside of its domestic market.
Q.How many of its operating markets does Viettel Global currently report making a profit in?
How many of its operating markets does Viettel Global currently report making a profit in?
Viettel Global currently makes profits in eight of the ten markets where it operates. These profitable markets include Cambodia, Laos, and several countries in Africa and South America.
Q.What are Viettel Global's financial results for consolidated revenues and net profit in 2017?
What are Viettel Global's financial results for consolidated revenues and net profit in 2017?
In 2017, Viettel Global reported consolidated revenues of over VND19 trillion, which was a 24 per cent increase from the previous year. It also achieved a net profit of VND27 billion.
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