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VietNamNews

Fund sells off stake in mobile retailer

Update: March, 21/2013 - 10:03

HCM CITY (VNS)— Mekong Capital announced yesterday that its Mekong Enterprise Fund II has completed a partial exit from MobileWorld Investment Corp, the country's leading mobile phone retail chain, by selling an almost 7 per cent stake to an unnamed financial investor.

The fund's ownership in Mobile World goes down from 32.5 to 25.8 per cent.

While not revealing the deal value either, Mekong Capital said the sale represented an 11-fold return, including dividends, since its investment in 2007.

MobibleWorld's subsidiary TheGioiDiDong has 230 stores nationwide and approximately 20 per cent of the mobile-phone market share.

Another subsidiary Dienmay has 12 consumer electronics stores, mostly in the south and HCM City.

Mekong Enterprise Fund II, one of three funds managed by Mekong Capital, made 10 investments of which it has already fully sold two: ICP (consumer products) and Mai Son (retail). — VNS


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