Mobile World approves IPO, listing plan for consumer electronics retail subsidiary

The board of directors of Mobile World Investment Corporation (HoSE: MWG), a leading retailer in Vietnam, has okayed a plan for subsidiary Dien May Xanh Investment JSC (DMX) to conduct an IPO and stock market listing.

The plan is expected to be rolled out in 2026, MWG stated on Friday. The corporation described the IPO as a strategic milestone, marking a new phase with sustaining double-digit earnings growth.

“As an independent, publicly traded company, DMX will broaden investment choices for investors seeking businesses with strong brands in an essential retail sector, with attractive profitability potential and a sustainable growth outlook,” said the MWG release.

Going forward, DMX is set to pursue quality-driven growth, expand value-added products and services, effectively utilize the multi-service Super App platform, and accelerate scale expansion in the Indonesian market.

MWG said DMX will remain an integral component of its ecosystem, and the subsidiary is expected to contribute a substantial proportion of its consolidated revenue and profit in the 2026-2030 period.

DMX becoming an independent, publicly traded company will deliver long-term strategic, financial, and governance benefits for MWG, while unlocking the growth potential for the entire ecosystem, the release said.

DMX plans to conduct a private placement representing 1% of its charter capital for key individuals, with the issued shares subject to an 18-month lock-up period following the completion of the offering.

The board said it unanimously supports DMX's private placement initiative, noting it will not to participate in the placement to reserve the entire allocation for individual investors who directly create value and play a critical role in DMX’s sustainable development strategy.

On August 8, MWG said it plans to conduct an IPO of and list its core retail chains The Gioi Di Dong (mobile phones) and Dien May Xanh by 2030.

This means MWG intends to list all three of its core businesses. Earlier, the firm announced the IPO of its grocery chain Bach Hoa Xanh. This IPO was originally slated for 2022-2023 but has been delayed due to restructuring.

On the Ho Chi Minh Stock Exchange, MWG shares closed Friday at VND78,500 ($2.98) apiece.