Japan’s Nojima Electronics has bought another 3.7 million shares of Tran Anh Digital World JSC (TAG), the Vietnam Securities Depository said.
The buying of the shares, which belonged to Aureos Southeast Asia Fund and are equal to a 21 percent stake in TAG, has increased the total holding of the Japanese corporation to 30.92 percent, making it the largest foreign shareholder of TAG.
TAG is one of the leading electronics firms in northern Vietnam, with a chain of 15 stores. It plans to open seven to nine more stores to serve the northern region.
In the first quarter of this year, TAG earned 872.67 billion VND (40 million USD) in revenue, an increase of 44 percent over the same period last year and after-tax profit of 3.9 billion VND (178,899 USD), up 11.5 percent year on year. It plans to earn total revenue of 3.3 trillion VND (151.3 million USD) and net profit of 7.8 billion VND ( 357,798 USD) in 2015.
According to Bloomberg.com, Nojima Corporation operates consumer electronic chains that specialise in computers and communication products. The company also sells entertainment-related items such as game software and CDs, and household appliances, and has franchise stores in Kanagawa Prefecture.
Each TAG share closed at 24,000 VND (1.1 VND) on June 10 on the Hochiminh Stock Exchange.-VNA
(Vietnam+2015/6/11)
