Foreign investors gear towards Vietnam

TIN LIÊN QUAN
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Accordingly, Capital Research and Management Company, Dragon Capital and Mirae Asset Global Investments have devised plans to take up about three-quarters of stakes in the upcoming initial public offering of Vinhomes JSC – a realty developer of Vingroup. 

A project of Vinhomes in Hoa Binh. (Photo: VNA)

In April, Singapore wealth fund GIC came in as a pre-IPO investor and took a roughly 7 percent stake in Vinhomes for about 853 million USD by buying shares from Vingroup and other shareholders. 

Vinhomes’ first-quarter net profit jumped five times from the same period last year to 3.99 trillion VND (177.3 million USD), and revenue surged three times to 10.54 trillion VND, its financial statements showed.

Vietnam’s strong growth prospects, the government’s plan to accelerate equitisation and successful private sector IPOs over the past two years have attracted many investors to the country.

Though local equity markets in Vietnam have dropped 15 percent from a record high struck last month, analysts view the correction as short-lived.

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