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The Gioi Di Dong surges to ceiling on listing
The Gioi Di Dong (Mobile World) Investment Corporation shares (MWG) began trading on July 14 on the HCM City Stock Exchange, hitting the 20 per cent ceiling right in the morning session.
After listing at the reference price of VND68,000, the 357th listed company on the exchange soon surged to VND81,500.
But out of a bid for 1.36 million shares at the ceiling price of VND81,500 only 960 were matched during the morning session.
By close orders for 10,660 shares had been matched.
The company had initially set the reference price at VND85,000 before reducing it.
Ten years since its incorporation it now has two retail chains -- thegioididong.com and dienmay.com -- and is the biggest mobile phone retailer in the country.
Last year its profit after tax was VND258 billion ($12.2 million), an 104.8 per cent increase over the previous year. This year it hopes to achieve a turnover of more than VND13 trillion ($619 million), which will represent a 37 per cent rise year-on-year.
bizhub
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