The HCM Stock Exchange has approved the additional listing of nearly 554 million shares, worth VND5.54 trillion (US$241 million), of private conglomerate Vingroup (VIC).

These shares were from the issue in June to pay dividends for 2017’s business result.

The total number of Vingroup shares will increase to 3.19 billion units after the decision. At the current market price of VND106,000 per share, the company is valued at VND338.3 trillion ($14.7 billion) and is the largest company on the stock market.

The second biggest company is its real estate arm, Vinhomes (VHM), with market value of over VND284 trillion ($12.3 billion).

The new shares are expected to start trading in early August.

VIC share value climbed over 37 per cent since the beginning of this year. The company has yet to release its second-quarter earnings. It posted an after-tax profit of over VND1 trillion in the first three months of this year, a growth of 70 per cent against the same period last year. – VNS