VinGroup’s shopping mall operator lists shares on HOSE

Vincom Retail (VRE), the shopping mall operator of the real estate giant VinGroup, started trading 1.9 million shares, equivalent to total charter capital of VNS19 trillion ($837 million , on the Ho Chi Minh Stock Exchange (HOSE) on November 6.
 

Vincom Retail, a retail arm of VinGroup, has listed 1.9 million shares on the HCM Stock Exchange. (Photo: viettimes.vn)

Vincom Retail, a retail arm of VinGroup, has listed 1.9 million shares on the HCM Stock Exchange. (Photo: viettimes.vn)

VRE shares closed the first trading session at VND40,550 ($1.79) per share, 20 percent higher than its debut price of VND33,800.
At that price, the company’s market capitalisation hit VND77 trillion, equal to $3.4 billion, making it among the top 10 largest companies by market capitalisation in Vietnam.
Vincom Retail operates 41 commercial centres with popular brands such as Vincom Center, Vincom Mega Mall and Vincom Plaza.
In the first half of this year, the company reported total revenues of VND2.73 trillion, down 26 percent year-on-year, and net profit of VND1.1 trillion, down 48.5 percent year-on-year.
It expects to achieve gross turnover of VND4.6 trillion and after-tax profits of more than VND2.1 trillion by 2018.

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