FPT Digital Retail JSC is set to launch its initial public offering (IPO) on December 15 on the HCM Stock Exchange, the Vietnam News reported.
Details of the IPO pricing are not disclosed, although the company’s book value per share stood at VNĐ34,525 apiece by the end of September.
A retail arm of Vietnamese tech conglomerate FPT Corp, FPT Retail, is the second biggest mobile handset retailer after Thế Giới Di Động (Mobile World), with over 450 shops nationwide.
The IPO is expected to make a similar impact to that of Mobile World Investment Corporation’s IPO in 2014, given the lucrative outlook of Việt Nam’s retail market.
FPT Retail deputy chief executive officer Nguyễn Việt Anh, disclosed in a recent roadshow that the company is expected to collect total revenues of about $600 million in 2017, 10 per cent of which would come from online sales, while its profit is estimated to be VNĐ293 billion (roughly $13 million) by the year-end, the report added.
It is also said that FPT Retail intends to pay dividend in the form of stocks at the rate of 100 per cent this year.
In the first six months of 2017, the business has delivered revenue of VND6.2 trillion ($273.12 million), up 31 per cent year-on-year, and profit before tax of VND141 billion, up 44 per cent. It expect to reach 27.5 per cent and 40 per cent increases in terms of revenue and profit before tax for this fiscal year.