MobiFone plans listing this year 

Vietnam Mobile Telecom Services Company said sales soared in 2009 and it plans to list shares this year on the Ho Chi Minh stock exchange.

Revenue for the year to Dec. 31 rose 52 percent to VND27.4 trillion (US$1.5 billion), the nation’s second-biggest wireless-phone carrier, known as MobiFone, said in a faxed statement Tuesday, without elaborating. Pretax profit fell 3.4 percent to VND5.6 trillion. It is expected to report net income next month.

The state-owned company “is quickly preparing for the privatization process” this year in an attempt “to improve competitiveness,” it said in the statement. MobiFone was valued at $2 billion by Credit Suisse Group AG, which has been hired as adviser for the share sale, Chief Administrator Ho Tuan said in March 2009. Ho gave no indication of how many shares would be listed.

The Hanoi-based company, which had 24 million subscribers at the end of 2009, expects sales to rise to more than VND34 trillion this year, according to the statement.

thanhnien, Bloomberg

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