At the end of the trading session on July 19, VN-Index witnessed a decline of 56 points due to investors’ concerns about the complicated situation of the COVID-19 epidemic in many localities and major markets such as: Ho Chi Minh City or Hanoi.
On HoSE, there were 346 stocks of decline, 21 stocks of reference price and only 50 stocks of increasing price. A series of stocks that were previously “balanced” in banking groups such as TCB, VPB, CTG, VIB, TPB, MSB, and LPB also dropped dramatically.
Among the biggest losers was MWG of Mobile World Joint Stock Company (JSC) when MWG dropped by 6.9% in the morning session of July 19.
This is what was predicted by the continuous negative information about Dien May Xanh, a brand owned by Mobile World Joint Stock Company. The information about being inspected by selling overvalued goods, dumping goods has caused Bach Hoa Xanh in particular and Mobile World Joint Stock Company in general to sink into a “flood” of negative reactions from consumers.
This boycott wave is still very hot on MXH, which has caused the share price of Mobile World, the owner of this retail chain, to plummet without stopping. Specifically, Mobile World’s stock price has lost up to VND 10,590/share. With 475 million listed shares, the loss in market capitalization of The Gioi Di Dong is more than VND 5,000 billion.
The owner of Mobile World, Nguyen Duc Tai – Chairman of the Board of Directors directly owns over 12 million shares of MWG and indirectly owns 15.52 million shares of MWG through Investment Consulting Company Limited. World Retail was also “flying” with nearly 600 billion dong of assets because the stock price plummeted. Currently, Mr. Tai is only the 13th richest person on the stock exchange.
Mr. Nguyen Duc Tai was born in 1969, graduated from the University of Economics in Ho Chi Minh City. Ho Chi Minh City majoring in Finance and Accounting and obtained a Master’s degree in Business Administration from CFVG Academy of Management. He is one of the 5 co-founders of Mobile World Investment JSC (MWG).
He has in turn held key positions of the Company and from 2007 to May 2014, he was Chairman of the Board of Directors at Mobile World Investment JSC (MWG) and General Director at Mobile World Joint Stock Company. (an important subsidiary of MWG). From May 2014 to now, Mr. Tai has held both the positions of Chairman of the Board of Directors and General Director of MWG. Bach Hoa Xanh is a member unit of MWG.