Foreigners spend $55 mln on Vinhomes stock

By Minh Son   August 20, 2020 | 01:07 am PT
Foreigners spend $55 mln on Vinhomes stock
Vinhomes Central Park apartment and office complex in Binh Thanh District, Ho Chi Minh City. Photo by Shutterstock/AJNguyen.
Foreign investors spent nearly VND1.3 trillion ($56 million) Thursday morning to buy over 17.1 million shares of real estate giant Vinhomes.

The put-through orders ranged from a few hundred thousand to nearly three million shares each, pushing Vinhomes’ VHM stock prices to VND82,200 ($3.52) at a certain point in the morning before closing at VND80,000 in the afternoon, unchanged from Wednesday.

In June, two investment funds, U.S.-based KKR and Singapore-based Temasek, spent VND15.1 trillion ($646 million) to buy over 200 million VHM shares, or a 6 percent stake in Vinhomes.

The company, a unit of conglomerate Vingroup, saw its pre-tax profit in the first six months of this year rise 13 percent year-on-year to over VND15 trillion.

Its main revenues come from apartment sales, but the firm has recently stepped into the industrial real estate sector in which it plans to invest over $400 million in the next two years.

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