More than 2.24 billion Viettel Global shares will make their debut on Hanoi’s unlisted public company market, UPCoM, on Tuesday.
The shares of Viettel Global Investment Joint Stock Company, with the sticker VGI, will be traded on the UPCoM at a floor price of VND15,000 ($0.65) per unit.
Viettel Global will become the largest firm on the UPCoM with market capitalization of VND33.6 trillion ($1.44 billion).
Established in late 2007 with chartered capital of VND960 billion ($41.18 million) as a unit of Viettel Group, Viettel Global covers the military group’s overseas investments.
Viettel Group holds 98.68 percent of the stake in Viettel Global.
At a general meeting in June, shareholders of Viettel Global approved a plan to increase its chartered capital to VND30.4 trillion ($1.3 billion).
In 2017, Viettel Global served nearly 40 million international customers, a growth of 13 percent from the previous year.
To date, Viettel Global makes profits in eight of the ten markets that it operates in. The eight markets are Cambodia, Laos, Timor Leste, Mozambique, Burundi, Haiti, Peru, and Cameroon. It entered Tanzania two years ago and Myanmar just this month.
Viettel Global plans to enter several new markets, mainly in ASEAN.
For this year, the company targets increasing its subscriber numbers by 10-15 per cent, bringing the cumulative population of its markets to 400 – 500 million and rank among the top 10 global telecom companies.
Viettel Global announced consolidated revenues of over VND19 trillion ($810 million) for 2017, an increase of 24 per cent year-on-year, and a net profit of VND27 billion ($1.16 million).