In a surprising turn of events, Vinhomes’ (VHM) stock has just witnessed a strong breakthrough, reaching 44,000 VND/share, the highest in five months since mid-April. Compared to the historical low confirmed in early August, VHM has surged over 27% in market price.
Vinhomes’ market capitalization has also increased by nearly VND 41 trillion ($1.6 billion) in just over a month, reaching nearly VND 192 trillion ($7.7 billion). This number propels Vinhomes back to the 4th position in the list of Vietnam’s most valuable listed companies. If we consider all three stock exchanges, only ACV (on UPCoM) has a higher market cap than Vinhomes.
The upward momentum of VHM stock is positively supported by the news that Vinhomes plans to buy back up to 370 million treasury shares, equivalent to 8.5% of the circulating shares. The estimated expenditure is up to VND 13 trillion. If successful, this will be the largest treasury stock purchase in the history of Vietnam’s stock market.
Vinhomes emphasizes that this move aims to protect the interests of both the company and its shareholders, as the stock price is currently much lower than the enterprise’s intrinsic value.
On August 12, Vinhomes finalized its list of shareholders to gather opinions on the treasury stock purchase plan. At that time, the company had more than 58,000 shareholders. On September 6, Vinhomes announced that the plan had been approved by shareholders with a high approval rate (78.52% of the voting shares).
“Vinhomes Cổ Loa: A Profitable Venture for Vinhomes”
The SSI Securities Corporation has released an update on the business operations of Vinhomes Joint Stock Company. In this report, SSI highlights the potential selling price range for the Vinhomes Co Loa project, estimated to be between $10,000 and $15,000 per square meter.
