TV pay service of FPT Telecom. Photo: fpttelecom.net.vn
Telecom JSC will float its 137.08 million shares coded FOX on the Unlisted Public Company Market (UPCoM) soon, giving another option to investors seeking profits in the local stock market, which has been among the best performers in Asia this year.
The date of debut is not specified, according to a statement of the Vietnam Securities Depository.
The telecommunications firm had a registered capital of 1.25 trillion dong (nearly $55 million) as of end-2015. Government-run State Capital Investment Corporation (SCIC) was the largest shareholder with a 50.16% stake and FPT Corp held 45.64%.
Established in 1997, FPT Telecom focuses on providing telecommunications and Internet
services. Its operations have reached out to Myanmar and Cambodia.
FPT Telecom earned a net profit of 662 billion dong ($29.16 million) in the three quarters ending September 2016 on revenue of 4.92 trillion dong ($216.78 million).
According to Vietnam’s ICT White book 2014, FPT Telecom occupied a 26.8% share in the local Internet fixed broadband market, second after VNPT