Vietnam's Mobile World sets July 14 IPO


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Vietnam's Mobile World sets July 14 IPO


Top Vietnamese mobile phone retailer Mobile World said it will make its share debut on the Ho Chi Minh Stock Exchange next week with a valuation of at least $200 million.
The company, 14 percent owned by Vietnamese fund Mekong Capital, has set a starting price of 68,000 dong ($3.20) per share for the July 14 debut, when it will list all 62.7 million shares, it said in a statement.
It was not immediately clear why Mobile World priced the debut lower than a private placement in April of 7.5 million shares at 85,000 dong each.
Mobile World, based in southern Binh Duong province, operates a mobile phone retail chain with 24 percent of Vietnam's market share and plans to expand its network of 213 stores in all 63 provinces.
Its debut comes ahead of the July 22 initial public offering by Vinatex, Vietnam's top textiles manufacturer.
In Vietnam, an IPO and listing are two separate processes that can sometimes be years apart.

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