Leading business conglomerate Vingroup JSC (VIC), one of the nation's largest real estate developers and a retail sector giant, has registered to buy all 116.7 million VHM shares of residential real estate firm Vinhomes JSC held by Vinpearl JSC.

 

The expected time to carry out the transaction is from December 21, 2023 to January 19, 2024.

 

Vingroup is currently holding more than three billion VHM shares, equivalent to 69.34 per cent of Vinhomes' charter capital. Of which, Vingroup directly holds 2.9 billion shares, accounting for 66.66 per cent of charter capital. For the remaining 116.7 million shares, it indirectly holds through Vinpearl - a subsidiary of Vingroup - accounting for 2.68 per cent of Vinhomes' charter capital.

 

According to Vingroup's announcement, the purpose of the transaction is to reorganise the ownership structure within the group.

 

Regarding business results, Vinhomes' total net revenue in the third quarter of 2023 reached VNĐ32.7 trillion, an increase of 84 per cent over the same period in 2022, mainly thanks to the sale of 2,400 low-rise real estate units at the Vinhomes Ocean Park 3 project. The company's pre-tax profit reached VNĐ14.2 trillion and after-tax profit reached VNĐ10.7 trillion, down 25 per cent and 26.2 per cent respectively, compared to the same period in the third quarter of 2022. VNS