FPT to divest from FPT Retail, reducing stake to less than 50%

According to Resolution No. 01.08-2017/NQ-HĐQTFPT, the Board of Directors of FPT approved the plan to divest from FPT Retail, reducing stake from 85% to less than 50%.

FPT will sell 30% of its stake in FPT Retail (reducing its stake from 85% to 55%) to financial institutions. Then, the Corp will divest a further 10 percent at the most (reducing its stake to less than 50%) to other investors via securities firms.

FPT Corporation is expected to complete its divestment in 2017. FPT Retail will submit its IPO plan at the AGM in 2018. As of December 31, 2016, FPT Retail has a chartered capital of VND200 billion.

FPT Retail has 453 stores by the end of July 2017

According to the data of Retail Asia Publishing Pte Ltd and Euromonitor Pte Ltd, FPT Shop ranked first in terms of sales per sqm in Vietnam with USD15,717/m2.

In the year 2017, FPT Retail plans to open 100 more stores, aiming at 27.5% sales growth. The retail segment continued to perform outstandingly in the first six months, with its YTD revenue up 31% and YTD profit before tax up 44% YoY. Currently, FPT Retail is operating 438 stores.