A project invested by Vinhomes. — Photo vinhomecitys.com

Vinhomes (VHM) has undertaken a significant buyback initiative, data from the Hồ Chí Minh Stock Exchange (HoSE) revealed.

By November 19, Vinhomes had repurchased a total of 190 million treasury shares, representing 51.37 per cent of the registered volume. Projections indicate that the company aims to cap its buyback at a maximum of 264 million shares.

Notably, during the November 19 session alone, Vinhomes acquired over 15 million shares, marking the third-largest volume purchased since the commencement of the buyback programme.

As per official disclosures, the property developer intends to acquire up to 370 million treasury shares, equivalent to 8.5 per cent of the total circulating shares. The buyback transactions are executed through matched orders and/or agreements from October 23 to November 21.

The rationale behind the share repurchase stems from Vinhomes' stock price trading below its intrinsic value. By reacquiring shares, the company aims to safeguard its interests and those of its shareholders. The funding for this repurchase is sourced from undistributed profits after tax as per the audited financial statements for 2023.

In accordance with regulations, Vinhomes is obliged to acquire a minimum of 1.1 million shares and a maximum of 37 million shares per trading day within the registration period.

With only two trading days remaining within the buyback registration timeframe, November 20 and November 21, Vinhomes is on the brink of concluding its transactions.

Considering the trading pace and the stipulated maximum purchase quantities per session, it is estimated that Vinhomes may acquire a maximum of 74 million units in these two sessions, potentially reaching around 264 million shares, or over 71.3 per cent of the total registered buyback volume.

On the stock market, the company's shares traded positively on Wednesday, up 2.61 per cent to VNĐ 43,300 per share. It closed Tuesday trade with a gain of over 3 per cent. — VNS