Vietnam Telco Giant to Float Shares Soon

Tuan Minh

09:42 12/12/2016

BizLIVE - FPT Telecom will list its shares on the UPCoM market soon, giving another option to investors seeking profits in the local stock market.

Vietnam Telco Giant to Float Shares Soon

TV pay service of FPT Telecom. Photo: fpttelecom.net.vn

FPT 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 with 56.25%.

TUAN MINH

Từ khóa: FPT, VNPT, Internet, SCIC