$13 billion is added to HOSE after the listing of Vinhomes

By Minh An - May 18, 2018 | 05:43 AM GMT+7

TheLEADERVinhomes with the code VHM's listing contributed to raising the market capitalization of Ho Chi Minh City Stock Exchange by about ten per cent.

$13 billion is added to HOSE after the listing of Vinhomes
Residential apartment complex Vinhomes Metropolis

A member of VingroupVinhomes recently listed nearly 2.7 billion shares on HOSE. The investors have ordered a large number of shares while the supply is limited, which makes VHM's shares being priced at the top of an indicative range at VND110.500 ($4.86).

At this price level, the company has a market capitalization of $13 billion which makes Vinhomes become the second largest company after Vingroup.

Vinhomes's listing contributed to raising the market capitalization of HOSE by about ten per cent and opened more opportunities for domestic and international investors to invest in enterprises operating Vietnam's real estate.

Restructured to become a company directly developing a real estate sector of Vingroup and its units, Vinhomes has experience in deploying dozens of real estate projects in 40 provinces and cities of Vietnam.

This company is considered one of the leading real estate developers in Vietnam with total assets of $4.2 billion by the end of March. It is also the pioneer brand in creating complex urban model "city in the city" with high quality housing system accompanied by infrastructure system and utilities.

Vinhomes’s residential units are continuously increasing their value over time thanks to Vingroup's ecosystem including high quality education, health care, commerce and entertainment services.

"The fact that Vinhomes listed shares on the HOSE today is a milestone in the company's history of development, promising to bring many advantages. Its brand will be widely promoted, the competitiveness and its value will be increased, transparency and quality management will be enhanced and so on," said Nguyen Dieu Linh, General Director of Vinhomes.

In the coming time, Vinhomes will implement the "satellite city" strategy in which, it will build cities that are 20-30 kilometres from Hanoi and Ho Chi Minh City or that have the potential for development.