In the latest announcement, Mr. Nguyen Duc Tai, Chairman of the Board of Directors of Mobile World Investment Joint Stock Company (code: MWG) has registered to sell 1 million MWG shares for personal financial needs.
The expected transaction period is from September 9 to October 8, 2024, through matching or agreement. Before the transaction, Mr. Tai held 33.4 million MWG shares, equivalent to 2.287% capital. Calculated based on the closing price of the latest session, it is estimated that the Chairman of MWG will collect about VND 69 billion if completing 100% of the transaction volume.
This is the second time this year that the Chairman of Mobile World plans to divest. Previously, in June, he completed the sale of 2 million MWG shares. Mr. Tai’s move comes as the share price has been trading sideways after a strong breakout. Specifically, MWG’s share price after hitting the 70,000 VND/share mark is heading for accumulation and adjustment, ending the session on September 4 at 69,100 VND/share. Compared to the beginning of 2024, MWG has increased by 63% in value.
The positive performance is mainly driven by a strong recovery in profits. This retail enterprise has had two consecutive quarters of exceptional growth in the first half of 2024 compared to the low base in the same period in 2023. The accumulated after-tax profit in the first six months reached VND 2,075 billion, an increase of over 5,200% compared to the first half of last year, thus completing nearly 87% of the set plan.
“Mobile World’s Profit to Skyrocket in 2024: Analysts Predict Bach Hoa Xanh’s Profit to Surpass VND 500 Billion, Boosting Parent Company’s Growth by a Whopping 2,360%”
The key growth drivers for The Gioi Di Dong are the positive outlook for the TGDĐ/ĐMX chain’s recovery from a low base and the BHX chain’s expansion post-breakeven.
Why the Mass Closure of Phone, Electronics, and Pharmacy Stores is Good News for The Gioi Di Dong
As of early this year, The Gioi Di Dong has closed hundreds of stores across its mobile, electronics, and pharmacy retail chains. Despite this, the company continues to expand its grocery store chain and its Indonesian offshoot.
The Great Pharmacy Chain Nightmare: Is It Sweeping the Mobile World?
By the end of 2024, An Khang plans to reduce its number of pharmacies to approximately 300 stores.
