Dien May Xanh Nears IPO Completion in 2026

The leadership of Mobile World Investment Corporation (MWG) has provided a significant update on the much-anticipated Initial Public Offering (IPO) of its electronics retail chain, Dien May Xanh (DMX). At the annual general meeting of shareholders held on April 18, 2026, Doan Van Hieu Em, CEO of DMX and a board member of MWG, confirmed that DMX is nearing the completion of all necessary procedures for its 2026 IPO. While specific listing plans remain undisclosed, Hieu Em assured stakeholders that recent geopolitical conflicts have not altered the company's IPO strategy.

This marks the first time MWG's management has shared concrete progress on the DMX IPO at the parent group's annual meeting. The plan, approved by MWG's board in December 2025, aims to restructure the retail ecosystem, enhance transparency, and provide an independent growth path for both Dien May Xanh and The Gioi Di Dong. Earlier shareholder meetings for DMX in January and March 2026 had already approved the potential issuance of up to 179.5 million shares, representing about 16.3% of the charter capital, at a price no lower than VND 16,163 per share (based on audited book value in 2025). The entirety of the funds raised is earmarked for repaying short-term loans. DMX also plans a substantial dividend payout from its retained earnings in 2025, totaling over VND 38 trillion, with MWG set to receive the majority due to its 98.95% ownership.

Further strategic moves are underway as DMX transitions its warranty and cleaning service model from 'Tan Tam' to 'Dien May Xanh Technician' (TDM), expanding services to external customers. Concurrently, the EraBlue chain in Indonesia, in which MWG holds a 45% stake, is also seeing accelerated development. These initiatives are designed to prepare DMX for its transition into a publicly listed independent company, poised to make a more substantial contribution to MWG's consolidated revenue and profit during the 2026-2030 period. For the full year 2026, MWG projects revenue of VND 185 trillion (a 19% increase) and after-tax profit of VND 9.2 trillion (a 30% increase), with the DMX IPO identified as a critical strategic step towards achieving these ambitious financial goals.

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Currently, Dien May Xanh has almost completed the procedures to IPO in 2026, however, we cannot share the specific listing plan yet. We also do not have any changes in the IPO plan due to recent geopolitical conflicts.