Singapore-based fund sells 2.4 mln shares in retail major Mobile World

By Trang Nguyen
Thu, April 20, 2023 | 8:41 am GMT+7

Arisaig Asian Fund Limited, a member fund of Arisaig Partners (Singapore), sold nearly 2.4 million MWG shares in Vietnamese retail giant Mobile World Investment Corp. on April 11 for the purpose of investment restructuring.

The sale leaves Arisaig Asia Fund Limited holding 100.46 million units in MWG, equivalent to 6.87% from the previous 7.03%. Calculated according to the closing price on April 11 of VND40,700 ($1.73) per share, the deal earned an estimated VND97 billion ($4.12 million).

Mobile World, a mobile phone retail chain owned by MWG. Photo courtesy of the company.

Mobile World, a mobile phone retail chain owned by MWG. Photo courtesy of the company.

In early February, two other member funds of Arisaig Partners, Arisaig Global Emerging Markets Fund and Mercer Fund Public Limited Company, bought a total of more than 4 million MWG shares.

Despite the sale, the Arisaig Asian Fund still holds the most MWG shares out of all foreign funds.

Arisaig Partners was established in 1996 and specializes in investing in consumer goods and retail businesses on a scale of billions of dollars.

From 2020 - 2021, the Arisaig group was a net buyer of MWG shares through hand-to-hand transactions via the Vietnam Securities Depository (VSD) from groups including Pyn Elite Fund, NTasian Discovery Master Fund, Aberdeen fund group, and Coeli SICAV I - Frontier Markets Fund.

MWG's annual general meeting of shareholders on April 8 approved targets of VND135 trillion ($5.75 billion) in consolidated revenue and VND4.2 trillion ($178.8 million) in after-tax profit in 2023, slight increases from last year.

The targets were set in the context of the difficulties facing the market. In the first two months of this year, MWG recorded revenue of VND19 trillion ($810.34 million), down 25% compared to the same period last year.

The HCMC-based retail giant reported an after-tax profit of VND4.1 trillion ($174 million) in 2022, down 16% year-on-year, fulfilling 65% of its target. Net revenue hit VND133.41 trillion ($5.66 billion), up 8%, according to its consolidated financial report.

As of December 31, 2022, MWG's total assets stood at VND55.83 trillion ($2.37 billion), down 11% from the beginning of the year, of which inventory accounted for VND25.7 trillion ($1.09 billion), down 12%.

On the Ho Chi Minh Stock Exchange, MWG closed the Wednesday session at VND40,500 ($1.72).

Comments (0)
  • Read More
2025 a turning point for Vietnam stock market: broker

2025 a turning point for Vietnam stock market: broker

Vietnam's stock market has struggled to capture the attention of both domestic and foreign investors in recent months, reflected by persistent foreign capital outflows and a steady decline in market liquidity, according to Chen Chia Ken, CEO of Phu Hung Securities JSC.

Finance - Wed, November 20, 2024 | 7:07 am GMT+7

Construction trio keen on building $1.5 bln expanded expressway in southern Vietnam

Construction trio keen on building $1.5 bln expanded expressway in southern Vietnam

Three construction majors in Vietnam are interested in building an expanded expressway connecting Ho Chi Minh City with the Mekong Delta provinces of Long An and Tien Giang for an estimated VND38.6 trillion ($1.52 billion).

Infrastructure - Tue, November 19, 2024 | 8:18 pm GMT+7

Singapore, Germany upgrade relations to strategic partnership

Singapore, Germany upgrade relations to strategic partnership

Singapore and Germany have decided to elevate their ties to a Strategic Partnership to promote closer cooperation in areas of mutual interest such as security, artificial intelligence (AI) and clean energy.

Southeast Asia - Tue, November 19, 2024 | 8:01 pm GMT+7

Thailand’s rice shipment up 20% in 10 months

Thailand’s rice shipment up 20% in 10 months

Thailand exported 8.37 million tons of rice in January-October, a year-on-year increase of 20%, according to the Ministry of Commerce.

Southeast Asia - Tue, November 19, 2024 | 8:00 pm GMT+7

Vietnam’s inconsistent legal framework poses problems for FDI sector: Deep C exec

Vietnam’s inconsistent legal framework poses problems for FDI sector: Deep C exec

Vietnam’s legal framework lacks consistency and the foreign direct investment (FDI) sector will soon face challenges related to the Law on Environmental Protection, says Bruno Jaspaert, CEO of Deep C Industrial Zones.

Economy - Tue, November 19, 2024 | 6:30 pm GMT+7

Vietnam shares sink on extended foreign selloffs

Vietnam shares sink on extended foreign selloffs

Vietnamese equities fell for a fourth consecutive day on Tuesday as foreign traders extended their selling spree.

Finance - Tue, November 19, 2024 | 5:10 pm GMT+7

Germany’s household product firm QuickPack to invest $32 mln in Vietnam

Germany’s household product firm QuickPack to invest $32 mln in Vietnam

Germany’s QuickPack, a specialist for household goods and hygiene products, will invest €30 million ($31.8 million) in Vietnam’s Mekong Delta province of Long An.

Industries - Tue, November 19, 2024 | 4:24 pm GMT+7

Malaysian millionaire willing to invest in convicted Vietnamese tycoon’s property project: lawyers

Malaysian millionaire willing to invest in convicted Vietnamese tycoon’s property project: lawyers

Malaysian millionaire Vincent Tan has evinced investment interest in a residential project owned by convicted tycoon Truong My Lan, chairwoman of Van Thinh Phat Group, lawyers for the latter have disclosed.

Real Estate - Tue, November 19, 2024 | 4:17 pm GMT+7

‘Bottleneck of bottlenecks’ continues to dog Vietnam's property, infrastructure projects

‘Bottleneck of bottlenecks’ continues to dog Vietnam's property, infrastructure projects

Limited consultations between state agencies and the parliament’s primary focus on wording are issues with Vietnam’s legal framework adversely affecting property and infrastructure projects, say experts and corporate leaders.

Economy - Tue, November 19, 2024 | 3:40 pm GMT+7

President Xi Jinping hastens construction of 3 Vietnam-China rail routes

President Xi Jinping hastens construction of 3 Vietnam-China rail routes

Chinese President Xi Jinping has called for more substantial cooperation between China and Vietnam, including the pacier implementation of three railway routes linking the two nations.

Infrastructure - Tue, November 19, 2024 | 3:08 pm GMT+7

Vietnam developers offer deferred principal payments, interest support to boost year-end sales

Vietnam developers offer deferred principal payments, interest support to boost year-end sales

Vietnamese housing developers are offering several incentives including deferred principal payments and interest support to stimulate demand and boost liquidity as the year nears its end.

Real Estate - Tue, November 19, 2024 | 2:29 pm GMT+7

Australia's EQ Resources acquires TMG Group with Vietnam-based ferrotungsten factory

Australia's EQ Resources acquires TMG Group with Vietnam-based ferrotungsten factory

Australia-based EQ Resources Limited has acquired its fellow firm Tungsten Metals Group (TMG), which owns and operates the largest ferrotungsten (FeW) factory outside China.

Companies - Tue, November 19, 2024 | 11:00 am GMT+7

Techcom Securities becomes largest broker in Vietnam by capital base

Techcom Securities becomes largest broker in Vietnam by capital base

Techcom Securities JSC (TCBS) has become the largest securities company in Vietnam by charter capital after finishing a rights offering last week.

Finance - Tue, November 19, 2024 | 9:11 am GMT+7

Vietnam airport operator ACV looks to better exploit non-aviation service potential: exec

Vietnam airport operator ACV looks to better exploit non-aviation service potential: exec

Vietnam's airports operator ACV expects to earn $145 million from non-aviation services this year, accounting for around 18.83% of its total revenue, which is modest compared to other countries, said deputy general director Nguyen Duc Hung.

Companies - Tue, November 19, 2024 | 7:45 am GMT+7

The Investor to host seminar on removing legal bottlenecks for infrastructure, property investment

The Investor to host seminar on removing legal bottlenecks for infrastructure, property investment

A seminar themed “Removing legal bottlenecks for infrastructure and property investment” will be organized by The Investor in Hanoi on Tuesday.

Companies - Tue, November 19, 2024 | 7:00 am GMT+7

Indonesia promises Asia-Pacific investors more incentives

Indonesia promises Asia-Pacific investors more incentives

Indonesian President Prabowo Subianto recently told the press that he will create more incentives and expand special economic zones (SEZs) so as to lure investors from Asia-Pacific.

Southeast Asia - Mon, November 18, 2024 | 11:01 pm GMT+7