Dragon Capital increases ownership in Mobile World Group

Tuesday, May 14, 2024 15:42

An outlet of mobile retailer Mobile World Group (MWG). — Photo MWG

A group of investment funds run by Dragon Capital has acquired an additional eight million shares of MWG (Mobile World Group), increasing its ownership from 6.91 per cent to 7.46 per cent of the company's charter capital.

The division was: Vietnam Enterprise Investments Limited fund bought 3,305,000 shares, Norges Bank fund purchased 1.7 million shares, Wareham Group Limited fund acquired 1,193,000 shares, the DC Developing Markets Strategies Public Limited Company fund bought one million shares, Saigon Investments Limited fund purchased 500,000 shares, Samsung Vietnam Securities Master Investment Trust (Equity) fund acquired 200,000 shares and KB Vietnam Focus Balanced Fund bought 100,000 MWG shares.

By contrast between March 14 to March 22, Nguyễn Thị Thu Tâm, younger sister of Nguyễn Đức Tài, chairman of the Board of Directors of MWG, sold 200,000 shares, reducing her ownership from 529,554 shares (0.036 per cent of charter capital) to approximately 329,554 shares (0.023 per cent of charter capital).

Additionally, from February 27 to March 26, Robert Alan Willett, a non-executive member of MWG's Board of Directors, sold 1.1 million shares, reducing his ownership from 0.548 per cent to 0.473 per cent of the company's charter capital.

In its latest company report, Mobile World posted revenues of VNĐ31.5 trillion in the first quarter of 2024, a 16.2 per cent increase compared to the same period last year. Profit after tax reached VNĐ903 billion while gross profit margin also improved from 19.2 per cent to 21.3 per cent.

Mobile World has set a target for revenues of VNĐ125 trillion in 2024, a 6 per cent increase compared to the previous year, with an expected profit after tax of VNĐ2.4 trillion, a 13.29-fold increase from 2023. — VNS

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