Vietnam's
FPT seeks partial sales retail and distribution units
Vietnamese technology firm FPT plans
to sell parts of its profitable retail and distribution units this year to
focus on its core businesses, the company said on Wednesday.
As
of February, FPT owned 85 percent of FPT Retail and 100 percent of FPT
Trading, its distribution unit, FPT said in an email responding to Reuters
questions on Wednesday. The sections accounted for a quarter of FPT's profit
last year.
Technology
retail businesses like FPT and rival Mobile World Investment Corp, whose net
income soared 60 percent last year, have been benefiting from Vietnam's
tech-savvy 90-million population.
The
number of mobile phone subscribers in Vietnam grew 26 percent to 124 million during
2009-2013, latest data from the government showed.
FPT
was Apple's sole distributor in Vietnam until late last year and its retail
flagship store chain, FPT Shop, reported a 335 percent jump in annual net
profit in 2015 with 252 stores after four years in operation, the company
said.
FPT
declined to disclose the amount of shares it plans to offload or the value of
the units. FPT Trading, which also operates in Cambodia, Myanmar and Nigeria,
has 680 billion dong ($30.4 million) in registered capital while FPT Retail
has 200 billion dong.
FPT
wants to focus on its core businesses, information technology and
telecommunication, which accounted for 70 percent of profit last year, and to
find investors with financial expertise and international business and
management experiences to boost performance in retail and distribution.
The
firm said it has signed an advisory contract with Japan's Nomura Securities
and local Viet Capital Securities to carry out the deal.
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Thứ Năm, 24 tháng 3, 2016
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