Vingroup’s resort arm Vinpearl goes public

By Anh Tu November 18, 2024 | 07:04 pm PT

Vinpearl Resort & Spa Phu Quoc. Photo courtesy of the company

Conglomerate Vingroup’s resort and entertainment arm, Vinpearl, has become a public company, paving the way for its listing on a stock exchange.

The State Securities Commission of Vietnam has confirmed the public status of the company, which is 85.55% owned by Vingroup.

Vingroup leaders said in a general meeting in April that the company plans to list Vinpearl on an exchange this year.

Vinpearl is among the top resort operators in Vietnam. It has 10 hotel and resort complexes in major tourist destinations such as Phu Quoc, Nha Trang, Hoi An and Quang Ninh.

Its post-tax profit jumped 3.8 times to VND2.58 trillion ($102 million) in the first half this year, thanks to a surge in sales in the second quarter.

Vinpearl used to be listed on Ho Chi Minh Stock Exchange in early 2008, but its shares were exchanged into Vingroup shares when the parent company was listed in 2011.