Japanese corporation to increase stake to 30.92 per cent in upcoming transaction.
The Nojima Corporation from Japan has proposed it purchase 3,709,060 shares of the Tran Anh Digital World JSC (Tran Anh), with the transaction to take place between May 28 and June 16.
The Aureos South East Asia Fund, L.L.C from Mauritius previously registered to sell its 3,709,060 shares in Tran Anh.
If the transaction proceeds the Nojima Corporation will increase its shareholding in the electronics supermarket chain from 10.01 per cent to 30.92 per cent, becoming its largest foreign shareholder in the process.
Despite the transaction having yet to proceed, at the annual general meeting at the end of March shareholders voted Mr. Okawa Yoshiteru and Mr. Noguchi Atsushi, both from Nojima Corporation, onto the company’s Board.
Tran Anh now has 15 electronics supermarkets, mostly in the north of Vietnam, and is set to open three new outlets in Hanoi, Hai Phong, and Thai Binh shortly. By the end of this year it will have opened four or five new outlets in the north, with three or four being in Hanoi.
According to its first quarter financial statements, revenue stood at VND872.67 billion ($40.01 million) and profit after tax VND3.9 billion ($178,815).