Dien May Xanh, the electronics retail subsidiary of Mobile World Group (HoSE: MWG), has secured approval from the Ho Chi Minh City Stock Exchange (HoSE) to list approximately 1.27 billion shares. This development paves the way for the company's stock market debut, which could see its valuation exceed $3.8 billion. This valuation would position Dien May Xanh's market capitalization at around VND101 trillion ($3.84 billion), surpassing its parent company MWG, which has a market value of about VND93 trillion ($3.53 billion). The listing is expected to place Dien May Xanh among the 30 largest companies on Vietnam's stock market by market capitalization.
The company's shares are anticipated to commence trading in early August, with a reference price of VND80,000 ($3.04) per share, consistent with its initial public offering (IPO) price. The HoSE granted approval after a two-week review of the listing application. Prior to this, Dien May Xanh successfully completed its IPO, with 93% of the offered shares subscribed. Approximately 60 domestic and foreign investment funds participated in the offering, which raised over $500 million, making it one of Vietnam's largest listings in recent years.
Dien May Xanh reported consolidated revenue of VND65.3 trillion ($2.48 billion) for the first half of 2026, marking a 31% increase year-on-year and exceeding half of its full-year target. The company projects a revenue growth of 30% and a 50% rise in net profit after tax for 2026, along with a cash dividend of VND4,000 per share post-listing, equivalent to a 5% yield on the IPO price. Mobile World Investment Corporation now holds nearly 86% of Dien May Xanh's charter capital after the IPO, which saw the company's charter capital increase from VND11.01 trillion to VND12.67 trillion.
