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DGW announces IPO price for August debut

Update: July, 31/2015 - 07:53

Digiworld on Tuesday announces it IPO on August 3. — VNS Photos Le Thu Ngan

HCM CITY (VNS) — Digiworld Corp (Digiworld), the IT product distributor, has announced that its initial public offering (IPO) will be held on August 3 at the HCM Stock Exchange with the code DGW.

In a road show to introduce the company to investors in HCM City, Digiworld said the IPO would offer 23.5 million of shares at the price of VND52,000 (US$2.3) each.

For the first half of this year, the company announces that the CEO and his family own 49.75 per cent of the company's stakes. Employees and key staffs own 37.06 per cent. Foreigners held 12.56 per cent and treasury shares are 0.64 per cent.

Speaking about the growth strategy, CEO Doan Hong Viet said the company wanted to become a billion-dollar-revenue company by 2020.

To reach the goal, the company this year has continued to focus on mobile phones, laptops and tablets, and office appliances.

Next year, along with traditional business, the company will develop e-fulfillment and enterprise solutions. Expansion and distribution of other products will be continued from 2017.

Viet said that Digiworld established in 2003 would form joint-venture businesses with producers to ensure product supply and exclusivity of product distribution.

The company is in negotiations with network providers in the country to design packages that give customers more added value.

Co-operation with e-retailers will also be another focus in order to increase sales, Viet said.

In 2014, the company reached a net revenue growth of 59.3 per cent. The net profit rose 2.5 times compared with 2013 to VND128 billion ($6 million). — VNS

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