Vincom Retail holds its first post-listing AGSM

Vincom Retail Joint Stock Corporation (Vincom Retail), a member of Vingroup just held its first annual general shareholders’ meeting (AGSM) on Thursday after listing on the HCMC Stock Exchange.

According to VNS report, in 2017, Vincom Retail recorded a total revenue of VND5.5 trillion (US$244.4 million). Most of the figure was from leasing retail slots, which contributed VND4.45 trillion to the total revenue, an increase of 17 per cent from 2016.

Last year, the company launched 15 new commercial centres, raising the total number of such centres across the country to 46, and improved the performance of the ones that had been opened in 2016.

Vincom Retail has an area of 1.2 million sq.m. for retail lease—the highest in Việt Nam—and attracted 115 million visitors to its shopping centres in 2017, a yearly increase of 42 per cent.

The company earned VND2 trillion in post-tax profit in 2017.

It debuted 1.9 billion shares on the stock market on November 6, 2017, which has been a key motivation for the company to achieve its business targets.

The listing of Vincom Retail on HCMC Stock Exchange was the highlight of the Vietnamese stock market in 2017. Vincom Retail became one of the 10 largest companies by market capitalisation.

The deal was recognized by the international media as the most successful share sale in the Asia-Pacific region in 2017.

In 2018, Vincom Retail targets to lead the retail sector in Việt Nam and continue to maintain its status as the first retailer of the country.

The company will increase the number of shopping centres in all cities, provinces and districts by opening 20-30 new shopping centres this year as well as improve the quality of employees, infrastructure and corporate governance to achieve the best performance.

Vincom Retail targets VND8 trillion in total revenue for 2018 and VND2.5 trillion in post-tax profit. The figures mark an increase of 45 per cent and 25 per cent, respectively, from last year.

In the first quarter of this year, the company posted VND1.6 trillion in revenue, a yearly increase of 16 per cent, and VND702 billion in pre-tax profit, down by 8 per cent year-on-year, as the company had sold its entire stakes in associate businesses in 2017.

US$325 mllion corporate bonds

High-end resort and hotel operator Vinpearl JSC plans to raise $325 million from bond issuance, guaranteed by its parent company Vingroup.

The trust deed will be signed between Vinpearl, Vingroup and Bank of New York, London Branch.

The paying and exchange agency agreement will be signed between Vinpearl, Vingroup, Bank of New York, London Branch, and New York Mellon SA/NV, Luxembourg Branch.

The subscription agreement will be finalised between Vinpearl, Vingroup, Credit Suisse (Singapore) Limited and Deutsche Bank AG, Hong Kong Branch.

The bondholders will be able to convert Vinpearl’s bonds into the amount of Vingroup shares owned by Vinpearl, Vingroup said on Tuesday.

According to Vingroup’s annual report of 2017, Vinpearl holds more than 90 million Vingroup shares, accounting for 3.14 per cent of the giant property developer’s charter capital.

Vingroup is currently listing more than 2.63 billion shares on HCM Stock Exchange with the code VIC, having rallied 13.3 per cent in the last seven trading sessions to VND124,700 per share on Thursday.