Vincom Retail, a retail arm of VinGroup, has filed to list 1.9 billion shares on the HCM Stock Exchange. — Photo viettimes.vn
Vincom Retail, a retail arm of VinGroup, has submitted the listing registration document to the HCM Stock Exchange (HOSE), the southern exchange announced.
Vincom Retail has charter capital of over VND19 trillion (US$837.4 million) and plans to list a total of 1.9 billion shares on the southern market.
The listing timetable has not been disclosed.
The consulting firm for the listing is Saigon Securities Inc.
Vincom Retail is Viet Nam’s largest shopping mall operator with 41 commercial centres nationwide. Its popular brands include Vincom Center, Vincom Mega Mall, Vincom Plaza and Vincom+.
The operation of commercial centres is among the biggest profitable segments of VinGroup.
According to VinGroup’s first-half financial report, this business line brought in over VND2.88 trillion in revenue (including VND787 billion in internal trading) for VinGroup in the first half of this year. Vincom Retail’s pre-tax profit was VND1.45 trillion.
Vincom Retail has two foreign shareholders – Warburg Pincus and Credit Suisse AG – which own 15.17 per cent and 5.06 per cent of the mall operator, respectively.
In August, Bloomberg reported that Vincom Retail is planning a domestic initial public offering worth some $600 million, which could become Viet Nam’s largest-ever share sale in the private sector.
The last first-time IPO that topped $100 million was from local budget airline VietJet Aviation JSC at the end of 2016. — VNS