Vinhomes JSC, an arm of the real estate conglomerate Vingroup, has registered to list nearly 2.7 billion shares on the HCM Stock Exchange (HOSE).
HOSE announced receiving the listing registration documents for the shares of Vinhomes on April 2.
Saigon Securities Incorporation (SSI) will be the listing advisor for Vinhomes, according to HOSE.
Vinhomes operates in the high-end residential property segment, offering luxury serviced apartments and villas developed by Vingroup JSC.
According to HOSE, Vinhomes has chartered capital of nearly VND26.8 trillion (US$1.2 billion). As of February 8, Vingroup owned 69.67 per cent of Vinhomes’ charter capital.
Vingroup is a multi-disciplinary business group, operating in the segments of real estate, retail, hotel and leisure services, education, healthcare and heavy industry. Real estate is the core business of this corporation.
Vingroup shares, listed on HOSE under the code VIC, hit a new peak of VND127,500 on April 4. On the same day, the market capitalisation of the group reached $14.7 billion.
Commercial real estate contributed nearly 70 per cent of Vingroup’s total revenue of more than VND90 trillion in 2017.
According to Vingroup, revenue earned from the real estate segment increased sharply in the past year, by more than 33 per cent, thanks to the completion and handing over of property assets for projects such as Park Hill, Vinpearl Phu Quoc, Vinpearl Nha Trang, Vinhomes Central Park and Vinhomes Riverside – The Harmony.
Vingroup has developed real estate projects in many provinces and cities across the country. However, the projects under the banner of this corporation are mainly located in Ha Noi, such as Royal City, Times City and Park Hill, and in HCM City, such as Vinhomes Central Park and Vinhomes Golden River.
Previously, in November 2017, Vingroup also submitted the listing registration documents for the shares of its retail arm Vincom Retail (VRE) to HOSE, with a total listed volume of 1.9 billion shares.
Vincom Retail is the largest mall operator in Viet Nam, with a total area of some 1.2 million sq. m by the end of 2017.