“Vingroup Shares Soar: Related Warrants Surge 30%-80% in a Day”

The Ho Chi Minh Stock Exchange (HoSE), Vietnam’s main stock market, experienced fluctuations around the 1,280-point mark during the early hours of August 27th. Out of the traded stocks, more than 200 witnessed a decline. Fortunately, the stocks of the Vingroup conglomerate displayed a positive trend, preventing a more significant drop in the market. Notably, Vinhomes’ VHM stock rose over 2%, while Vincom Retail’s VRE stock climbed by 1.7%. However, the most impressive performance was that of Vingroup’s VIC stock, which surged to the daily limit-up price with no sellers.

This was the second consecutive session where stocks associated with billionaire Pham Nhat Vuong supported the market. On August 26th, the VN-Index fell by more than 5 points, but the trio of “Vin” stocks managed to stay in the green.

The upward momentum of these stocks had a positive impact on related warrants, with some even surging by over 80% during the trading session.

The recent gains in the ‘Vin’ stocks can be attributed to a significant move by billionaire Pham Nhat Vuong. On August 7th, Vinhomes announced its plan to repurchase 370 million treasury shares, equivalent to 8.5% of its outstanding shares. The expected repurchase price would be in the tens of thousands of billions of VND. This move is anticipated to boost the earnings per share (EPS) of Vinhomes.

Since the announcement on August 7th, VHM stock has climbed nearly 19% to a three-month high. VIC stock has also risen by almost 4%, while VRE stock has increased by 12%. These gains have solidified Vinhomes and Vingroup’s position within the top 10 companies by market capitalization on the Vietnamese stock market.

In other news, Vingroup has been actively seeking land investment opportunities for future real estate development. On August 22nd, Mr. Nghiem Xuan Thanh, Secretary of the Provincial Party Committee of Hau Giang, met with representatives of Vingroup to discuss the Mekong urban tourism and resort project in the province. During the meeting, the Hau Giang authorities introduced the project’s potential, orientation, and investment policies.

Mr. Thanh expressed his high regard for Vingroup’s professionalism and commitment to delivering on their projects. He assured the company that the province would prioritize this project and welcomed Vingroup’s continued partnership in the region. Mr. Nguyen Viet Quang, CEO of Vingroup, affirmed the company’s interest in the Mekong urban tourism and resort project, citing its alignment with their development strategy and advantageous location in terms of water and land transportation.

The Mekong urban tourism and resort project is expected to have a total investment of 6.2 billion USD and will cover an area of approximately 3,000 hectares. The project aims to accommodate a population of 300,000 people and serve 10,000 tourists daily. Key components of the project include a water park, an extreme entertainment park, a walking street with cuisine and a floating market, a Mekong village and museum, a Mekong live performance stage, a 36-hole golf course, a health care and retirement center, an art university, and a garden village combined with fruit orchards.