Viettel Global Investment JSC, a subsidiary of Viettel Group, plans to increase its charter capital to invest in eight new markets in the period of 2015-17. — Photo ictnews.vn

HA NOI (Biz Hub) — Viettel Global Investment JSC, a subsidiary of Viettel Group, plans to increase its charter capital by VND10 trillion (more than US$476 million) by selling one billion shares worth VND10,000 ($0.47) each held by its owner.

Its management board submitted the plan at the annual general meeting of shareholders, held in Ha Noi last week.

Viettel Corporation owns 97.58 per cent of Viettel Global whose current charter capital is VND12,438 billion (nearly $592.3 million). The firm is responsible for carrying out overseas investment activities of the group.

As per the proposal, the company will raise this capital to invest in eight new markets during 2015-17, and will need a total capital of nearly VND47,500 billion ($2.26 billion).

At the moment, Viettel Global has invested in eight countries in Southeast Asia, Africa and Central America regions, including Laos, Cambodia, Mozambique, Tanzania and Haiti. Besides, Bitel mobile network of Peru is directly owned by the corporation.

Last year, Viettel Global reported a revenue gain of VND14,166 billion ($674.5 million), a 27 per cent year-on-year increase. The before-tax profit of the firm reached nearly VND3,000 billion ($142.8 million), accounting for 43 per cent year-one-year increase.

At the end of last year, Viettel Global's shareholders meeting cleared a plan to cooperate with partners in Myanmar to establish Viettel Myanmar to invest in a telecommunications network. The project will feature a total expected capital of $1.8 billion, of which $800 million will be contributed by Viettel Global. The remaining amount will come from its foreign partners and Viettel Myanmar.

In March 2015, Metfone, a Viettel brand, purchased assets and licenses from Beeline Cambodia, the fourth largest mobile operator in Cambodia. — VNS