Japanese firm to buy Tran Anh Digital shares

Wednesday, May 27, 2015 14:20

A corner of Tran Anh digital shop in Ha Noi.— Photo dddn.com.vn

HA NOI (Biz Hub) — Japan's Nojima Corporation has registered to buy additional shares -- more than 3.7 million -- of Vietnamese electronics retailer Tran Anh Digital World JSC (TAG).

That is equal to 20.86 per cent of the company's registered capital.

If the transaction is successful, Nojima will own 30.92 per cent of TAG shares, becoming the largest foreign shareholder of the company, news website nhipcaudautu.vn said.

The transaction is scheduled to take place between May 28 and June 12.

At the same time, TAG's strategic investor Aureos South East Asia Fund has registered to sell all its 3.7 million TAG shares after five years of investment in the company.

Tran Anh Digital has 15 shops in the northern region. It plans to open three nine shops more in Ha Noi and the northern provinces this year. In the first quarter of this year, the company made an after-tax profit of VND3.9 billion (US$179,723), 11.5 per cent higher than the same period last year and equal to the total profit of 2014.

The company has set a target of earning VND7.8 billion ($359,477) this year. It achieved half of the target in the first quarter of this year. — VNS

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