Pham Nhat Vuong to buy Vinhomes shares privately

By Minh Son   September 18, 2023 | 08:44 pm PT
Pham Nhat Vuong to buy Vinhomes shares privately
A Vinhomes apartment complex in District 1, Ho Chi Minh City. Photo by Shutterstock/Evan_Unit01
Vietnam Investment Group, a private company owned by the country's richest man, Pham Nhat Vuong, has registered to buy 16 million shares of property developer Vinhomes.

Vuong is a director of Vinhomes and the chairman of Vingroup, its parent company.

The transaction, to be carried out between Sept. 21 and Oct. 20, will make Vietnam Investment Group the owner of a 0.37% stake in arguably Vietnam's largest property developer.

It will cost nearly VND800 billion (US$32.8 million) based on current VHM prices.

Vinhomes reported revenues quadrupled year-on-year in the first half of this year to VND75.58 trillion.

Its post-tax profit too quadrupled to VND21.60 trillion.

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