Tuesday, July 17 2018

VietNamNews

FPT Retail shares soar on debut day

Update: April, 27/2018 - 09:00
FPT Digital Retail JSC (FPT Retail) shares soared 20 per cent on Thursday as the company debuted on the HCM Stock Exchange (HoSE).— Photo cafef.vn

HÀ NỘI — FPT Digital Retail JSC (FPT Retail) shares soared 20 per cent on Thursday as the company debuted on the HCM Stock Exchange (HoSE).

FPT Retail listed its 40 million shares on HoSE with code FRT. Its shares moved to hit their daily rising band of 20 per cent, closing at VNĐ150,000 (US$6.67) per share, from the debut price of VNĐ125,000 per share.

At the closing price on Thursday, FPT Retail was valued at VNĐ6 trillion.

The listing of FPT Retail was attractive to foreign investors as its shares topped the must-buy list to foreign investors. They posted a net buy value of VNĐ137.3 billion ($6 million) for FPT Retail shares.

FPT Retail is holding two retail chains, which are FPT Shop (selling technological products) and F.Studio (authorised by Apple to sell authentic products and accessories). The total number of stores under the two chains has reached 480 across the country and is expected to increase in the near future.

The company is also the second-largest digital retailer behind Mobile World Investment Corporation. FPT Retail has made investment in 10 Long Châu pharmaceutical store chain. The number of drug stores is expected to reach 400 in the next four years.

The pharmaceutical segment is projected to contribute 40 per cent of FPT Retail’s total revenue in the future.

FPT Retail plans to achieve VNĐ1.6 trillion ($711 million) in total net revenue and VNĐ377 billion in post-tax profit, a yearly increase of 22 per cent and 30 per cent, respectively. The company also expects to pay a 20 per cent dividend in cash.

In the first quarter of 2018, FPT Retail recorded VNĐ3.88 trillion in revenue, an increase of 17 per cent year on year. Its first-quarter profit rose one-third to reach VNĐ64 billion, equal to 17 per cent of the full-year target. — VNS

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