10:48 | 14/11/2017 Companies
Vincom Retail (VRE), the shopping mall operator of the real estate giant VinGroup, started trading 1.9 billion shares, equivalent to total charter capital of VND19 trillion (US$837 million), on the Ho Chi Minh Stock Exchange (HOSE) on November 6.
|Vincom Retail, a retail arm of VinGroup, has listed 1.9 billion shares on the HCM Stock Exchange - Photo: viettimes.vn|
VRE shares closed the first trading session at VND40,550 (US$1.79) per share, 20% higher than its debut price of VND33,800.
At that price, the company’s market capitalisation hit VND77 trillion, equal to US$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% year-on-year, and net profit of VND1.1 trillion, down 48.5% 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.