Vietnam Dealbook: MobiFone, Tran Anh

Visual from Tran Anh website

MobiFone, one of Vietnam’s three major network operators, has been asked to seek a consulting agency and strategic partners for its equitisation process, which might happen in the third quarter of this year. Meanwhile, shareholders of Tran Anh Digital World JSC did not veto the acquisition of the company’s Japanese investor.

MobiFone hastens procedures for IPO

 

Network operator MobiFone, which was split from the Vietnam Posts and Telecommunications Group (VNPT) a year ago, will have to seek a consulting agency for its equitisation within this month to promptly finish the initial public offering (IPO) plan by September, as directed by the local Ministry of Information and Communications.

The ministry affirmed that it is a critical task, because if MobiFone fails to find an advisory company in April, the equitisation scheme will not be submitted in time.

Meanwhile, March 31 was the deadline for the corporation to calculate its corporate value. Another important task is to pick strategic partners to join the equitisation process.

After the split and start of the restructuring process, MobiFone has completed forming the new organisational mechanism in its 23 units. The corporation aims at providing broader services post IPO, instead of just confining itself in the mobile area. Authorities have said to soon select the board of members for MobiFone. Its CEO Le Nam Tra is concurrently holding the chairman position.

Also read: 

Axiata eyes stake in Vietnam’s MobiFone

Global telcos vie for stake in Vietnam’s MobiFone

Nojima ups stakes in Tran Anh Digital World

 

Nojima Corporation, one of Japan’s leading electronics retailers, will purchase 20.77 per cent of Tran Anh Digital World JSC from Aureos South-East Asia Fund LLC to increase its holding to 30.78 per cent, and will appoint two people to the Vietnamese appliance supermarket chain’s board of directors.

This was approved by Tran Anh’s shareholders on Friday even though the Japanese investor is not supposed to make a public offer.

By the end of last year, four largest shareholders of the company were its chairman Tran Xuan Kien (22.59 per cent), board member Do Thi Thu Huong (21.33 per cent), the aforementioned fund (20.77 per cent and Nojima Corporation (10.1 per cent).

Thus, the Norwegian fund will divest from Tran Anh, while Noguchi Atsushi – Nojima’s deputy director of overseas investment, and its senior advisor Okawa Yoshiteru will be nominated to the Hanoi-based company’s board during the 2014-2019 period. Nojima Corporation began investment in 2013.

This year, the digital device provider plans to expand its outlets by nine more stores, mainly located in the north of Vietnam. It expects to increase its revenue by 36 per cent over 2014 to reach more than VND3.3 trillion ($153.5 million) and profit after tax by 100 per cent to VND7.8 billion ($362,800).

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.