Viettel Post Corporation, an arm of military-run telecom giant Viettel Group, has received permission from the Hanoi Stock Exchange to list more than 41.3 million shares on the market for unlisted public companies (UPCoM) on November 23, with the starting price of VND68,000 (US$2.9) per share.
Over 20 years of development, Viettel Post is now the second largest express delivery service provider in the country and has the fastest growth in the postal sector. The corporation has nearly 1,200 shareholders, with Viettel Group holding more than 68% of the shares.
The firm currently has 1,300 post offices, 7,000 transaction points, 500 trucks and 17,000 employees. Its network has spread to 63 cities and provinces nationwide.
Viettel Post is the first Vietnamese enterprise to provide express delivery services in foreign markets, particularly Cambodia and Myanmar. These two markets hold high potential for logistics and ecommerce development.
The firm reported a consolidated revenue of more than VND4 trillion last year, surging 37.64% over 2016. Its pretax profit reached VND213.5 billion in 2017.
The respective consolidated revenue and pretax profit was more than VND1.9 trillion and VND147 billion in the first half of this year, up 1.06% and 61.5% over the same period last year.
Over the last five years, Viettel Post registered an annual revenue growth rate of 52.6%, the highest in the local postal sector.
As for its long-term development plans, the firm will gradually convert into a logistics firm, apply technology in providing delivery services and enhance its overseas investment. It expects to generate revenue of VND10.5 trillion in 2020.