FPT Retail, the digital retail arm of Vietnamese tech conglomerate FPT Corporation, on Thursday listed 40 million shares on the Ho Chi Minh Stock Exchange (HOSE) at VND 125,000 ($5.53) apiece, valuing the company at VND 5 trillion ($220 million).
FPT Retail’s shares will trade under stock code FRT. The retailer owns two retail chains: FPT Shop, which sells mobile phones, laptops and accessories from multiple brands, and F.Studio, which offers genuine Apple products and accessories.
FPT Retail has an 18 per cent share of the mobile phone retail market in Vietnam, after Mobile World (45 per cent).
In 2017, FPT Retail reached nearly VND13.2 trillion ($580.8 million) in revenue and VND290 billion ($12.7 million) in profit after tax, up 21 per cent and 40 per cent respectively year-on-year. The retailer is planning to expand its business with a foray into the $5-billion pharmaceuticals market.
Last year, FPT sold a 30 per cent equity interest in FPT Retail to Dragon Capital and VinaCapital. Currently, the three largest shareholders of FPT Retail are FPT Corporation (47 per cent), followed by Dragon Capital (20 per cent) and VinaCapital (15 per cent).
By Quynh Nguyen, first posted on Deal Street Asia