Asanzo to call for VNĐ500 billion in capital

Wednesday, Aug 15, 2018 18:39

Founded in 2013, Asanzo has developed quickly. — Photo

Asanzo plans to sell 15 per cent of its stake to call for capital of about VND500 billion (US$21.5 million) from now to 2020, Pham Van Tam, Asanzo chairman.

The company, which specialises in electronic equipment, said that its first target of this capital mobilisation was its distributor.

"This is one step in the process of preparing for Asanzo’s initial public offering (IPO). Before debuting, we want to share the benefits first for our distributors – our longtime companions who understand us the most," Tam told online newspaper the LEADER.

Asanzo also plans to build a new factory in HCM City, located in Cu Chi District this year, over an area of ​​about 17,000sq.m and with investment of over VND400 billion.

This factory will produce goods for the central and southern markets.

With the goal of an IPO, Asanzo wants to expand its production scale and diversify products.

Founded in 2013, Asanzo has developed quickly. The company’s revenue reached VND4.6 trillion last year, doubling from that of 2016.

The company set a growth target of VND10 trillion in revenue this year.

According to market research firm GfK, Asanzo ranked fourth in the Vietnamese market with 16 per cent market share, following Samsung, Sony and LG.

The coverage of the brand in the countryside is up to 70 per cent.

In addition to televisions, Asanzo also produces electronics, home appliances and smartphones. — VNS

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