Vincom Retail to list its 1.9 billion shares on bourse
By Dang Hoa
September 27, 2017 | 12:10 PM GMT+7
The Vietnam’s largest owner and operator of shopping malls Vincom Retail, a subsidiary of Vingroup Joint Stock Company (Vingroup) has registered to list over 1.9 billion shares on the Hochiminh Stock Exchange (HOSE).
Vincom Retail registers to list its 1.9 billion shares on bourse. Photo: Vingroup
HOSE has announced that Vincom Retail submitted the procedures in order to list more than 1.9 billion shares with over VND19,000 billion (roughly US$837.37 million) of charter capital on September 22. This is one of the companies having the highest charter capital on HOSE.
The corporation has not revealed any information related to the listing of its shares; however, it will be implemented in accordance with the prevailing laws of Vietnam, including the law on securities and the market conditions.
Vincom Retail is the company that manages the trading centers of Vingroup Group such as Vincom Center, Vincom Mega Mall, Vincom Plaza and Vincom+. By the end of the Q2 2017, Vingroup had 100 per cent voting rights. It is still expected to be the biggest shareholder of Vincom Retail after the listing.
Warburg Pincus, a leading global private equity firm, has invested around US$300 million in Vincom Retail since 2013 and is expected to hold a 20 per cent stake in Vincom Retail. However, it does not hold ordinary shares but owns non-voting preferred stock.
In Q2 2017, Vincom Retail launched eight trading centers in seven provinces of Vietnam, raising the total number of retail centers to 40 in 21 provinces.
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