Vingroup property affiliate gets on bourse

Thursday, May 17, 2018 16:09

Nguyen Viet Quang, general director of Vingroup, marks the listing of Vinhomes on the HCM Stock Exchange on May 17. — Photo Thu Hang

Vinhomes JSC, the real estate arm of Vingroup, on May 17 listed 2.68 billion shares on the HCM Stock Exchange.

The reference price was VND92,100 per share (US$4.04) against its face value of VND10,000 ($0.43), and the share quickly hit the upper price limit.

The company has a charter capital of more than VND26 trillion ($1.14 billion), according to Tran Anh Dao, deputy director of HOSE.

The listing on the stock exchange is a milestone in the development of the firm, helping enhance its brand, competitiveness, transparency and management quality, Nguyen Viet Quang, general director of Vingroup, said.

The firm plans to develop real estate projects in satellite urban centres near Ha Noi and HCM City and in cities and provinces with high development potential, he said.

Vinhomes JSC is developing property projects in 40 cities and provinces now, he said.

As of the end of March the company had total assets of almost VND94.69 trillion ($4.15 billion). — VNS

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