Vietnam property developer Vincom (VIC) will float all of its 80 million shares on Ho Chi Minh Stock Exchange next week in $600 million stock market listing, the company said on Tuesday.
The Hanoi-based company will float the shares at starting price of 119,000 dong ($7.4), similar to the average price Vincom shares were sold to retail investors at an auction of five million shares in July this year, traders said.
The shares are allowed to rise or fall by a 20 percent margin from the listing price on the first day of trading, according to stock market rules.
Vincom, which owns an office and shopping complex in Hanoi and a five-star resort in Nha Trang, forecast its next year net profit will rise 9 percent to $8.6 million from the previous year thanks to to strong demand for property.
It forecast an 11 percent rise in sales to $15.2 million, taking its return on equity to 17 percent from 16 percent this year.
Vincom forecast 2009 net profit to soar 700 percent to $71 million from 2008, as it completes the sale of several apartment buildings.
In June the Ho Chi Minh City municipal government granted Vincom 8,000 square metres (86,110 sq ft) of land in the District 1 commercial centre for a $250-million shopping mall and office building.
The company is also branching out into the energy sector and financial services and has plans to set up an investment fund and a brokerage with state-run Vietindebank.
Source: Reuters
Showing posts with label Vincom. Show all posts
Showing posts with label Vincom. Show all posts
Tuesday, September 11, 2007
Friday, August 31, 2007
What can big corporations’ cooperation deals bring?
Analysts have been talking about the trend of “brand name trading”. This is when big corporations signs agreements on strategic partnership and cooperation.
A lot of cooperation agreements have been signed recently, between the Vietnam Post and Telecommunications Group (VNPT) and three corporations, Vincom (real estate developer), BIDV (bank) and Vinaconex (construction); between BIDV and the Vietnam Development Bank (VDB); between the Vietnam Coal and Mineral Industries Group (Vinacoal) and a transport works design company.
It has become a trend that big corporations cooperate with each other, which can help them share risks in doing business while allowing them to seek more profit.
VNPT, for example, is mainly a telecommunications service provider. However, with the cooperation with Vinaconex and Vincom, it is attempting to enter a new business field: construction and real estate. The enterprises that cooperate with VNPT will also benefit from having VNPT as a special partner in terms of access to its services.
The news about cooperation between corporations has brought about a lot of effects. One year ago, when the stock market was hot, news about cooperation deals helped a lot in making corporations’ shares more valuable. The shares of the companies involved in cooperation agreements skyrocketed right after mass media reported on the deals.
That explains why questions have been raised about the reasons for the partnerships.
VNPT now can establish a bank, while FPT, a software and informatics company, now can jump into other business fields, including finance and securities. Meanwhile, other enterprises have not made any moves after their hand shakings.
Vincom’s representatives stressed that the company did not intend to take advantage of VNPT to polish its image. VNPT and Vincom now have common, specific goals in capital investment, technology infrastructure for high-grade apartment areas.
According to VNPT’s representative, it will not happen that VNPT will be the sole service provider for Vincom. VNPT will have to compete with other rivals, though it has advantages as the strategic partner of Vincom.
Anyway, experts have warned that enterprises should think carefully before making cooperation deals. If the benefit the two sides can get does not satisfy enterprises, they will cheapen their brand names.
Source: VNE
A lot of cooperation agreements have been signed recently, between the Vietnam Post and Telecommunications Group (VNPT) and three corporations, Vincom (real estate developer), BIDV (bank) and Vinaconex (construction); between BIDV and the Vietnam Development Bank (VDB); between the Vietnam Coal and Mineral Industries Group (Vinacoal) and a transport works design company.
It has become a trend that big corporations cooperate with each other, which can help them share risks in doing business while allowing them to seek more profit.
VNPT, for example, is mainly a telecommunications service provider. However, with the cooperation with Vinaconex and Vincom, it is attempting to enter a new business field: construction and real estate. The enterprises that cooperate with VNPT will also benefit from having VNPT as a special partner in terms of access to its services.
The news about cooperation between corporations has brought about a lot of effects. One year ago, when the stock market was hot, news about cooperation deals helped a lot in making corporations’ shares more valuable. The shares of the companies involved in cooperation agreements skyrocketed right after mass media reported on the deals.
That explains why questions have been raised about the reasons for the partnerships.
VNPT now can establish a bank, while FPT, a software and informatics company, now can jump into other business fields, including finance and securities. Meanwhile, other enterprises have not made any moves after their hand shakings.
Vincom’s representatives stressed that the company did not intend to take advantage of VNPT to polish its image. VNPT and Vincom now have common, specific goals in capital investment, technology infrastructure for high-grade apartment areas.
According to VNPT’s representative, it will not happen that VNPT will be the sole service provider for Vincom. VNPT will have to compete with other rivals, though it has advantages as the strategic partner of Vincom.
Anyway, experts have warned that enterprises should think carefully before making cooperation deals. If the benefit the two sides can get does not satisfy enterprises, they will cheapen their brand names.
Source: VNE
Friday, August 24, 2007
VNPT signs strategic pact with Vincom
Viet Nam Post and Telecommunications Group (VNPT) and Vincom Joint Stock Company on Aug. 23 signed an agreement making them strategic partners.
The agreement involves closer cooperation between the two companies, so that they will become strategic shareholders and customers of each other’s respective enterprises.
While VNPT will become the main supplier of telecom equipment for Vincom’s real estate projects, Vincom will be awarded VNPT infrastructure development contracts.
“This is a very notable partnership as it will combine the strengths and resources of two of the country’s leading companies,” said VNPT’s vice general director Nguyen Ba Thuoc.
Thuoc stressed that the collaboration between the two large corporations would boost Viet Nam’s economy and the technology sector, in particular, during integration into the World Trade Organisation.
He also said that the collaboration would promote the competitive edge of the two firms on the international market.
Last year, VNPT, the country’s largest telecom service provider, posted a revenue of 38.3 trillion VND (2.4 billion USD), up 14.9 percent compared to 2005 and 3.4 percent higher than the company’s initial forecast.
Real estate developer Vincom ISC generated revenue of 548.4 billion VND (34 million USD) last year, four times higher than the previous year’s figure. Its after-tax profit increased five fold, reaching 343.7 billion VND (21.4 million USD). Vincom, wholly owned by Vietnamese investors, also brings Ha Noi Vincom Tower to the table, among many other properties.
Source: VNA
The agreement involves closer cooperation between the two companies, so that they will become strategic shareholders and customers of each other’s respective enterprises.
While VNPT will become the main supplier of telecom equipment for Vincom’s real estate projects, Vincom will be awarded VNPT infrastructure development contracts.
“This is a very notable partnership as it will combine the strengths and resources of two of the country’s leading companies,” said VNPT’s vice general director Nguyen Ba Thuoc.
Thuoc stressed that the collaboration between the two large corporations would boost Viet Nam’s economy and the technology sector, in particular, during integration into the World Trade Organisation.
He also said that the collaboration would promote the competitive edge of the two firms on the international market.
Last year, VNPT, the country’s largest telecom service provider, posted a revenue of 38.3 trillion VND (2.4 billion USD), up 14.9 percent compared to 2005 and 3.4 percent higher than the company’s initial forecast.
Real estate developer Vincom ISC generated revenue of 548.4 billion VND (34 million USD) last year, four times higher than the previous year’s figure. Its after-tax profit increased five fold, reaching 343.7 billion VND (21.4 million USD). Vincom, wholly owned by Vietnamese investors, also brings Ha Noi Vincom Tower to the table, among many other properties.
Source: VNA
Monday, August 20, 2007
Vincom to list on HCM City Stock Exchange
Vincom has received regulatory approval to list 80 million shares on the Ho Chi Minh City Stock Exchange, raising its charter capital from 600 billion VND (37.5 million USD) to 800 billion VND.
The company predicts 2007 revenue will reach 220 billion VND, with profit at about 127 billion VND.
Vincom has also received the go ahead to expand into golf course construction and entertainment services.
Source: VNA
The company predicts 2007 revenue will reach 220 billion VND, with profit at about 127 billion VND.
Vincom has also received the go ahead to expand into golf course construction and entertainment services.
Source: VNA
Tuesday, July 10, 2007
Vincom pulls out of Hanoi trade center project
A Vietnamese property developer announced Friday it has pulled out its bid to build a trade center in Hanoi, citing gratuitous expenditures involved in the project.
Vincom Joint Stock Co., owner of the Vincom City Towers in the capital, had initially bid on a project to develop the existing Hom Duc Vien market into a trade center.
A company spokesman attributed the withdrawal to the project’s extra expenditures like compensation and site clearance, which the company said would cost an additional VND200 – VND300 billion outside the project’s main cost.
Vincom recently raised $37 million from a maiden auction of 5 million shares, or 8.33 percent of the company.
The company has forecast its net profit would rise 9 percent to $8.6 million next year on revenues of $15.2 million due to strong property demand.
The firm is set to list on the Ho Chi Minh City market next month.
It plans to construct two major office-trade complexes and a massive parking lot in the HCMC’s downtown for a total of $250 million.
Vincom is also seeking permission to set up a VND300 billion brokerage arm and a VND50billion fund manager.
Source: Thanh Nien
Vincom Joint Stock Co., owner of the Vincom City Towers in the capital, had initially bid on a project to develop the existing Hom Duc Vien market into a trade center.
A company spokesman attributed the withdrawal to the project’s extra expenditures like compensation and site clearance, which the company said would cost an additional VND200 – VND300 billion outside the project’s main cost.
Vincom recently raised $37 million from a maiden auction of 5 million shares, or 8.33 percent of the company.
The company has forecast its net profit would rise 9 percent to $8.6 million next year on revenues of $15.2 million due to strong property demand.
The firm is set to list on the Ho Chi Minh City market next month.
It plans to construct two major office-trade complexes and a massive parking lot in the HCMC’s downtown for a total of $250 million.
Vincom is also seeking permission to set up a VND300 billion brokerage arm and a VND50billion fund manager.
Source: Thanh Nien
Thursday, July 05, 2007
Vincom sells out at IPO
Property developer Vincom Joint Stock Company sold all 5 million listed shares during its initial public offering (IPO) on the Ho Chi Minh City Securities Trading Centre on July 3, said Vincom board chairman Le Khac Hiep.
Prices per share ranged between 117,000 VND (10.31 USD) and 171,000 VND ( USD) and averaged at 120,000 VND, 40,000 VND more than the company’s initial bid of 80,000 VND a piece.
Market analysts described the auction as quite an achievement, due in part because investors registered to purchase 18.5 million shares, more than therefold what Vincom offered.
The company plans to officially list shares on the stock market in early August, said Hiep.
Source: VNA
Prices per share ranged between 117,000 VND (10.31 USD) and 171,000 VND ( USD) and averaged at 120,000 VND, 40,000 VND more than the company’s initial bid of 80,000 VND a piece.
Market analysts described the auction as quite an achievement, due in part because investors registered to purchase 18.5 million shares, more than therefold what Vincom offered.
The company plans to officially list shares on the stock market in early August, said Hiep.
Source: VNA
Wednesday, July 04, 2007
Vincom raises $37 million in IPO
Vietnam property developer Vincom has raised $37 million from a maiden auction of 5 million shares, or 8.33 percent of the company, the Ho Chi Minh Stock Exchange said Wednesday.
The average winning price at the auction on Tuesday was 119,479 dong ($7.4), or 49 percent higher than Vincom's starting offer of 80,000 dong, the exchange said in a statement.
Foreign investors bought nearly 30,000 of the shares offered, the statement said.
Hanoi-based Vincom, which owns a large office and shopping complex in the capital and a five-star resort in the central city of Nha Trang, is now valued at about $444 million.
Vincom Chairman Le Khac Hiep has said the firm would float its shares on the Ho Chi Minh market next month.
Hiep said in June the firm had won permission from the Ho Chi Minh City government to build a $250 million office complex in the city's District 1 commercial center.
Despite fast economic growth of around 8 percent, Vietnam still suffers from a shortage of quality office buildings and commercial centers.
Vacancy rates at top office buildings in Hanoi and Ho Chi Minh City are at record lows and monthly rents have surged about 20 percent in the last two years to average $30-$35 per square meter, double the rates in Bangkok.
Vincom has forecast its net profit would rise 9 percent next year from 2007 to $8.6 million on revenues of $15.2 million due to strong property demand.
Source: Thanh Nien
The average winning price at the auction on Tuesday was 119,479 dong ($7.4), or 49 percent higher than Vincom's starting offer of 80,000 dong, the exchange said in a statement.
Foreign investors bought nearly 30,000 of the shares offered, the statement said.
Hanoi-based Vincom, which owns a large office and shopping complex in the capital and a five-star resort in the central city of Nha Trang, is now valued at about $444 million.
Vincom Chairman Le Khac Hiep has said the firm would float its shares on the Ho Chi Minh market next month.
Hiep said in June the firm had won permission from the Ho Chi Minh City government to build a $250 million office complex in the city's District 1 commercial center.
Despite fast economic growth of around 8 percent, Vietnam still suffers from a shortage of quality office buildings and commercial centers.
Vacancy rates at top office buildings in Hanoi and Ho Chi Minh City are at record lows and monthly rents have surged about 20 percent in the last two years to average $30-$35 per square meter, double the rates in Bangkok.
Vincom has forecast its net profit would rise 9 percent next year from 2007 to $8.6 million on revenues of $15.2 million due to strong property demand.
Source: Thanh Nien
Thursday, June 21, 2007
Vincom to auction 5 million shares in July
Vincom JSC on June 20 announced plans to sell five million shares during its initial public offering in the third quarter on the Ho Chi Minh City Securities Trading Centre.
The book building phase of the IPO will take place on July 3, with shares entering the stock market in early August. The shares carry a face value of 10,000 VND (0.63 USD) a piece, and will be offered at 80,000 VND next month.
The IPO is part of Vincom's plans to mobilise 775 billion VND by selling 20 million shares. The remaining 15 million shares will be sold to existing stock holders at 25,000 VND a piece.
The money raised will go toward improving the company's capital position and fund future projects.
"Over the last five years, we have maintained a solid position in the real estate market," said Vincom board chairman Le Khac Hiep. "We will continue to focus on this field in the coming years".
According to Hiep, major upcoming projects include a 456-billion VND (28.5 million USD) trade and apartment complex, the 1.5-trillion VND (93.75 million USD) Long Bien Eco-Tourism Resort and a 4-trillion VND (250 million USD) hydro-electric power plant.
Hiep said competition will continue to grow in the property development and construction industries, beyond current players like Trang Tien Plaza, Big C Thang Long and Opera Business Centre.
"We still aim to be a leading property developer in Viet Nam," said the board chairman.
Vincom now has 600 billion VND (37.5 million USD) in total equity, and expects to earn a revenue of 221 billion VND this year.
On the over-the-counter market, Vincom shares are now trading around 136,000 - 140,000 VND a piece.
Source: VNA
The book building phase of the IPO will take place on July 3, with shares entering the stock market in early August. The shares carry a face value of 10,000 VND (0.63 USD) a piece, and will be offered at 80,000 VND next month.
The IPO is part of Vincom's plans to mobilise 775 billion VND by selling 20 million shares. The remaining 15 million shares will be sold to existing stock holders at 25,000 VND a piece.
The money raised will go toward improving the company's capital position and fund future projects.
"Over the last five years, we have maintained a solid position in the real estate market," said Vincom board chairman Le Khac Hiep. "We will continue to focus on this field in the coming years".
According to Hiep, major upcoming projects include a 456-billion VND (28.5 million USD) trade and apartment complex, the 1.5-trillion VND (93.75 million USD) Long Bien Eco-Tourism Resort and a 4-trillion VND (250 million USD) hydro-electric power plant.
Hiep said competition will continue to grow in the property development and construction industries, beyond current players like Trang Tien Plaza, Big C Thang Long and Opera Business Centre.
"We still aim to be a leading property developer in Viet Nam," said the board chairman.
Vincom now has 600 billion VND (37.5 million USD) in total equity, and expects to earn a revenue of 221 billion VND this year.
On the over-the-counter market, Vincom shares are now trading around 136,000 - 140,000 VND a piece.
Source: VNA
Monday, June 18, 2007
Vincom to invest $250 mln in office complex
Vietnam's property development firm Vincom, due to conduct its initial public offering next month, has won permission to build a $250 million office complex in Ho Chi Minh City.
The Ho Chi Minh City municipal government said in a circular seen on Monday it had agreed to let Vincom develop the 8,000 square-metre plot in the city's commercial centre District 1.
Vincom Chairman Le Khac Hiep was quoted by state media as saying the firm would invest $250 million to build office towers, underground car parks and shopping malls there.
Vacancy rates at top office buildings in Hanoi and Ho Chi Minh City are at record lows and monthly rents have surged about 20% in the last two years to average $30-$35 per square metre, double the rates in Bangkok.
Vincom, which owns a large office and shopping complex in Hanoi and a five-star resort in the central city of Nha Trang, will sell 5 million shares, or 8.3% of the company, on July 3 to raise about $25 million.
The company is valued at around $300 million.
Source: Reuters
The Ho Chi Minh City municipal government said in a circular seen on Monday it had agreed to let Vincom develop the 8,000 square-metre plot in the city's commercial centre District 1.
Vincom Chairman Le Khac Hiep was quoted by state media as saying the firm would invest $250 million to build office towers, underground car parks and shopping malls there.
Vacancy rates at top office buildings in Hanoi and Ho Chi Minh City are at record lows and monthly rents have surged about 20% in the last two years to average $30-$35 per square metre, double the rates in Bangkok.
Vincom, which owns a large office and shopping complex in Hanoi and a five-star resort in the central city of Nha Trang, will sell 5 million shares, or 8.3% of the company, on July 3 to raise about $25 million.
The company is valued at around $300 million.
Source: Reuters
Friday, June 15, 2007
BIDV and Vincom team up for urban scheme
The Bank for Investment and Development of Viet Nam (BIDV) has reached a deal to provide banking and investment services to real estate giant Vincom Joint Stock Co.
The long-term contract will provide Vincom with priority interest rates, executives said on June 13.
“We hope this will bring more opportunities for both of us in terms of supporting investment capital, expanding operational networks (and) diversifying business sectors,” said BIDV general director Tran Bac Ha.
BIDV’s insurance wing will also become a shareholder in Vincom Securities Co when the company goes public.
The bank and Vincom plan to combine forces on a new urban development scheme north of the Red River in Dong Anh district and a high-end complex in HCM City.
”Vincom is one of the first enterprises in the private sector that BIDV decided to cooperate with. In recent years, the private sector has been growing speedily and we highly appreciate this development,” Ha said.
The State-run bank plans to increase its lending ratio to the private sector to 85% by 2010, he said.
The agreement is designed to foster long-term, sustainable growth for both companies, said Vincom CEO Le Khac Hiep.
Vincom JC Company, wholly owned by Vietnamese investors, includes Ha Noi Vincom Tower among its stable of properties.
Source: VNA
The long-term contract will provide Vincom with priority interest rates, executives said on June 13.
“We hope this will bring more opportunities for both of us in terms of supporting investment capital, expanding operational networks (and) diversifying business sectors,” said BIDV general director Tran Bac Ha.
BIDV’s insurance wing will also become a shareholder in Vincom Securities Co when the company goes public.
The bank and Vincom plan to combine forces on a new urban development scheme north of the Red River in Dong Anh district and a high-end complex in HCM City.
”Vincom is one of the first enterprises in the private sector that BIDV decided to cooperate with. In recent years, the private sector has been growing speedily and we highly appreciate this development,” Ha said.
The State-run bank plans to increase its lending ratio to the private sector to 85% by 2010, he said.
The agreement is designed to foster long-term, sustainable growth for both companies, said Vincom CEO Le Khac Hiep.
Vincom JC Company, wholly owned by Vietnamese investors, includes Ha Noi Vincom Tower among its stable of properties.
Source: VNA
Tuesday, April 17, 2007
Vincom plans IPO
Vietnamese property developer Vincom plans to raise $25 million via a maiden auction in June of 5 million shares, or 8.3 percent of the company, state media reported on Monday.
The shares, which carry a face value of 10,000 dong each, will be auctioned on June 6 at a starting price of 80,000 dong ($5), the Lao Dong newspaper reported.
The starting price suggests the company, which owns a large office and shopping complex in Hanoi and a five-star resort in the central city of Nha Trang, would be valued at around $300 million.
Source: Reuters
The shares, which carry a face value of 10,000 dong each, will be auctioned on June 6 at a starting price of 80,000 dong ($5), the Lao Dong newspaper reported.
The starting price suggests the company, which owns a large office and shopping complex in Hanoi and a five-star resort in the central city of Nha Trang, would be valued at around $300 million.
Source: Reuters
Saturday, March 31, 2007
Vincom licensed to build recreation center in Hanoi
Vincom Joint Stock Company, which owns Vincom City Towers, a large commercial center in Hanoi, got the license Thursday to build a 94 million US$ entertainment complex in suburban Hanoi.
The 500 ha complex, straddling Long Bien and Gia Lam districts, will comprise a 36 hole golf course, shopping malls, restaurants, a hotel, villas.
Work on the project is expected to kick off in August and will be done in two phases.
The golf course – the largest in the city – a tourist port on the Hong (Red) River, a park, shopping malls, restaurants, and other leisure facilities will be completed first.
However, it is not known when the work will be completed. A second phase will see the construction of the hotel and villas.
Vincom is planning to list on the Ho Chi Minh City stock exchange this year.
It has already applied to the State Securities Commission to make an initial public offering and said details would be revealed upon receiving approval.
The company has tied up with a local partner to renovate the Thong Nhat Park also at a cost of $94 million.
Vincom Joint Stock Co was established in 2002 with a chartered capital of VND251 billion (15.7 US$ million).
It has since increased its capital to VND600 billion.
Source: Thanh Nien
The 500 ha complex, straddling Long Bien and Gia Lam districts, will comprise a 36 hole golf course, shopping malls, restaurants, a hotel, villas.
Work on the project is expected to kick off in August and will be done in two phases.
The golf course – the largest in the city – a tourist port on the Hong (Red) River, a park, shopping malls, restaurants, and other leisure facilities will be completed first.
However, it is not known when the work will be completed. A second phase will see the construction of the hotel and villas.
Vincom is planning to list on the Ho Chi Minh City stock exchange this year.
It has already applied to the State Securities Commission to make an initial public offering and said details would be revealed upon receiving approval.
The company has tied up with a local partner to renovate the Thong Nhat Park also at a cost of $94 million.
Vincom Joint Stock Co was established in 2002 with a chartered capital of VND251 billion (15.7 US$ million).
It has since increased its capital to VND600 billion.
Source: Thanh Nien
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