MEF II sells 2.5m Mobile World shares

Mekong Enterprise Fund II, or MEF II, announced the successful sale of 2.5 million shares of Mobile World (MWG) on July 9. — Photo baodauthau.vn

HÀ NỘI — Mekong Enterprise Fund II, or MEF II, announced the successful sale of 2.5 million shares of Mobile World (MWG) on July 9.

After the sale, MEF II’s ownership of MWG fell from 10.94 to 9.24 per cent, equal to 13.54 million shares in the technology firm.

The fund also became the largest shareholder of MWG after World Retail Investment Consulting Limited Company with its 13.18 per cent of shares.

According to statistics from the HCM Stock Exchange on July 8, the entire 2.55 million shares of MWG, worth VNĐ344.4 billion (US$15.3 million), were traded when the shares ended at VNĐ130,000 each. So, at the lowest intraday trading price of VNĐ129,000 during the day, MEF II could earn at least VNĐ322.5 billion.

In the first six months of this year, MWG shares soared 64.5 per cent from VNĐ79,000 toVNĐ130,000.

The MEF II fund, managed by Mekong Capital, was one of the earliest institutions to invest in MWG since 2007. It was once the largest shareholder, with ownership of over 30 per cent. — VNS

Tags Mekong Enterprise Fund II Mobile World Corp

Ministry proposes extending agricultural land tax exemption through 2030

Economy

Year-end stimulus expected to boost economic growth

Economy

UK a niche market for Vietnamese speciality coffee

Economy

Calls for reforms to shorten VAT refund wait time

Economy

Fed’s foreseen rate cuts affect foreign exchange rate

Economy

Vietnamese Goods Week 2024 opens in Hà Nội

More on this story

Economy

SFC wants to buy more than 30 per cent of Foodsaco

Sài Gòn Fuel Joint Stock Company (SFC) registered to buy over 9.7 million shares, or nearly 33 per cent, of stakes in HCM Food One Member Company (Foodcosa) when the firm auctioned its shares in an initial public offering this week.

Economy

SSC fines public firm for late document submission

The State Securities Commission fined Cần Thơ Urban Joint Stock Company VNĐ7.5 million (US$333,300) for the late submission of their public firm document on July 6.

Economy

Report on private sector released

Joint statement and declarations adopted by the 2016 Việt Nam Private Economic Forum, including an analysis of the general context and the viewpoint of businesses about the state of Việt Nam’s private economic sector, were included in the White Paper: “Việt Nam Private Economic Forum – Opportunities, Challenges and Solutions.”

Economy

Banks take bond path to liquidity, capital enhancement

Many banks have opted to issuing long-term bonds to improve their equity to increase their chartered capital amid the difficult economic situation in recent years.

Economy

Tax sector seeks to reduce losses

The tax sector will focus on creating a decree to prevent tax losses and transfer pricing in the second half of the year, said Đỗ Hoàng Anh Tuấn, deputy minister of Finance.

Economy

Start-up community concerned over Article 292

Fearing that start-up businesses could be harmed, a petition calling for the scrapping of Article 292 under Penal Code 2015 was sent to officials, ministers and agencies.

Economy

VN markets may decline after gains: analysts

Việt Nam’s stock indices may decline this week, as investors continue to take profits from stocks after recent gains and lower oil prices could push energy stocks down, analysts warned.

Economy

Dragon Capital lists fund on London Stock Exchange

Dragon Capital, the leading investment management company investing in Việt Nam listed its Vietnam Enterprise Investments Limited (VEIL) on the London Stock Exchange recently.