Vinhomes to List on Hcmc Stock Exchange

• 8 May 2018
• International News
• 1822 Views

Vietnam’s largest property developer is listing 2.7 billion shares on the Ho Chi Minh City Stock Exchange (HoSE) for its luxury villa and serviced apartment subsidiary Vinhomes.

Hanoi-based Vingroup was established in 2014 owns 69.67 percent of Vinhomes’ charter capital which it has listed with a value of USD1.17 billion.

Vingroup owns multiple realty brands including Vinhomes Royal City (Hanoi); Vinhomes Times City (Hanoi); Vinhomes Riverside (Hanoi); Vinhomes Dong Khoi (Ho Chi Minh City).

Four foreign banks have been identified for the planned initial public offering of Vinhomes including Citigroup, Credit Suisse, Deutsche Bank and Morgan Stanley.

The share sales come against a backdrop of Vietnam’s strong economic growth propelled by domestic demand, export earnings, and reforms.