HÀ NỘI — Viettel Global Investment JSC, a subsidiary of military-run telecom giant Viettel Group, will list more than 2.24 million shares on the Unlisted Public Companies (UPCOM) market on September 25.

Viettel Group said the Hà Nội Stock Exchange had approved Viettel Global’s application to trade its shares (VGI) on UPCOM at a starting price of VNĐ15,000 per share.

Established in late 2007 with charter capital of VNĐ960 billion (US$42.3 million), Viettel Global specialises in investing and developing infrastructure and telecommunication services abroad. At present, Viettel Group owns a 98.68 per cent stake in the company.

Viettel Global is currently one of the biggest Vietnamese overseas investors. It now operates nine telecommunications companies in nine countries across Asia, Africa, and Asia, representing a total population of over 175 million people, 13 million of whom are Viettel customers.

Viettel Global has mobile operations in nine countries including Cambodia, Laos, Timor Leste, Mozambique, Burundi, Haiti, Peru, Cameroon and Tanzania.

It’s taken the lead position in terms of market share in five out of the nine countries including Cambodia, Laos, Timor Leste, Mozambique and Burundi.

In addition, Peru, which has been Viettel’s most profitable overseas market, has not been calculated into Viettel Global’s business results as under the Peruvian regulations, Viettel Group, not Viettel Global, is recognised as the investor in the market. By the end of 2017, Viettel Global had nearly 40 million international customers, posting a 13 per cent year-on-year increase.

It said its consolidated revenue for last year hit over VNĐ19 trillion, an increase of 24 per cent.

Its pre-tax profit was VNĐ27 billion ($1.18 million). This has been a positive result as the company has made large investments in Myanmar and African markets.

This year it targets to raise subscriber numbers by 15 per cent, expanding into enough markets to take the cumulative population of its markets to 400-500 million and rank among the top 10 global telecom companies.

Viettel Global’s shareholders also agreed in to raise the company’s charter capital to more than VNĐ30 trillion ($1.3 billion) by selling 800 million shares to its parent company.

The total capital would be used for Viettel Global’s investment demand into its projects by 2020. Buyers will not be allowed to sell the shares for one year.

Viettel has total registered capital of more than $2 billion in its overseas markets. Its overseas markets have brought in $516 million in profit, accounting for 45 per cent of its investment capital. — VNS