Vietnam-focused private equity firm Mekong Capital, structured through Mekong Enterprise Fund II, has sold 5.6 million shares of Vietnam-based mobile device retailer MobileWorld Investment Corporation (Mobile World) at VND85,000 (approximately US$4) per share, equivalent to nine percent of the company’s issued shares, in a pre-listing share placement for a total consideration of VND480.2 billion (approximately US$22.8 million). Including dividends, this represents a reported 21.8x increase from the adjusted price per share at which Mekong Capital originally invested in 2007. The balance of the shares, 1.85 million, or a three percent stake, was sold by alternative asset fund manager CDH Investments. The placement, intended to meet free float requirements, was allocated to six foreign institutional investors plus Vietnamese retail investors. The company plans to list on the Hochiminh Stock Exchange in June.