Vingroup to sell 3 pct stake in Vinhomes

By Dat Nguyen August 16, 2021 | 05:48 am PT

Vinhomes Golden River apartment complex in District 1, Ho Chi Minh City. Photo by Shutterstock

Vingroup has registered to sell over 100 million shares, or a 3 percent stake, in its real estate unit Vinhomes as the ticker is traded around an all-time high.

The transaction is set to complete between Aug. 19 and Sept. 17 and would fetch Vingroup around VND12 trillion ($527 million) at the current price.

VHM shares closed at VND116,000 Monday, down 3.3 percent.

Conglomerate Vingroup holds a 69.66 percent stake in Vinhomes, and the transaction, if successful, would bring the figure down to 66.66 percent.

Other investors of Vinhomes include the Government of Singapore Private Ltd, 5.74 percent, and Viking Asia Holdings II Pte, 5.55 percent.

Vinhomes posted a revenue of VND41.7 trillion in the first six months, up 82 percent year-on-year.

The company has an undistributed profit of nearly VND67 trillion as of the end of June, twice its charter capital.