Vincom to Float Shares on Stock Market
Vincom Joint Stock Company, the owner of Vincom City Towers in Hanoi, plans to list shares on the Ho Chi Minh City Securities Trading Center.
Vincom director Mai Huong Noi said her company has submitted an application to the State Securities Commission for an initial public offering (IPO).
Vincom was set up in 2002 with registered capital of VND251 billion (US$15.7 million). In the course of operating, the firm has raised capital to VND600 billion.
The firm’s shares are traded at around VND180,000 each on over-the-counter market.
The high prices paid for the shares prove investor confidence in the company’s development and future, Noi said, adding that her company has carefully discussed the listing plan.
At present, Vincom is also planning to invest VND1.5 trillion to renew and modernize the Thong Nhat Park, making it an attractive entertainment area.
The firm also plans to invest in other real estate projects, including a 36-hole golf course in Hanoi’s Long Bien District. (VNS, Pioneer Mar)
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