Vietnamese electronics retailer Dien May Xanh, a subsidiary of Mobile World Investment Corporation, is preparing to raise approximately US$546 million through an initial public offering this year.

The retailer plans to offer 79.5 million common shares at 80,000 VND (US$3.04) each, in what could become one of Vietnam’s largest consumer retail listings in recent years. Vietcap Securities has been appointed as adviser for the IPO.

According to local sources, Dien May Xanh said the IPO is aimed at enhancing transparency, strengthening brand equity and supporting future growth. 

Funds raised from the share sale will be used for debt repayment, business expansion and operational investments as the retailer looks to strengthen its position in Vietnam’s competitive consumer electronics market.

The chain operates under Mobile World Investment Corp (MWG), one of Vietnam’s largest listed retailers, and is known for its large nationwide network of electronics and home appliance stores.

Dien May Xanh is a leading retailer in categories such as smartphones, televisions, home appliances and consumer technology products, supported by rising household spending and growing demand for digital devices.

By 2030, the company aims to achieve compound annual revenue growth of 11 per cent and annual net profit growth of 16 per cent, ambitious targets for Vietnam’s retail industry. 

Supported by five new growth pillars, Dien May Xanh said it aims to strengthen its market leadership and become a preferred long-term investment choice for local and international financial institutions.

The planned IPO comes as Vietnam’s capital markets see stronger momentum, with more companies pursuing listings over the past two years. Analysts say investor interest has improved amid expectations that Vietnam could be upgraded from a frontier market to an emerging market, potentially attracting more foreign investment.