Mobile World Rises to Ceiling in Vietnam Stock Trading Debut
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Mobile World Investment Corp., Vietnam’s biggest mobile-phone retailer, surged by the limit in its trading debut on bets the company will benefit from growth in the nation’s market for hand-held devices.
The stock rallied to 81,500 dong on the Ho Chi Minh City Stock Exchange, valuing the company at 5.11 trillion dong ($241.2 million). Mobile World listed about 62.72 million shares with a reference price of 68,000 dong apiece today. Shares can rise or fall by a maximum 20 percent from the initial price on their first day of trading. The stock traded as high as 120,000 dong in the so-called over-the-counter market before the debut, according to SanOTC, which tracks OTC prices in Vietnam.