Vinhomes Joint Stock Company (stock code: VHM) has just announced the completion of the transfer of its entire capital contribution to Hoang Long Real Estate Investment and Development Company Limited (Hoang Long Company). After the capital contribution transfer, Hoang Long is no longer a subsidiary of Vinhomes.
Headquartered in Hanoi Street, Hong Bang Ward, Hai Phong City, Hoang Long Company was established by Vinhomes on June 27, just two months ago. With an initial charter capital of over VND 5,224 billion, in which Vinhomes owns 99.96%, Hoang Long will operate in the field of real estate business, focusing on developing housing and urban projects.
The establishment of this subsidiary takes place in the context of Vinhomes continuously expanding its presence in the Hai Phong market, where it is focusing on implementing large-scale projects such as Royal Island, Vinhomes Imperia, Vinhomes Marina (Cau Rao 2), and Golden City.
Vinhomes’ recent company establishment and capital contribution transfer transactions are usually wholesale transactions in large projects.
Vinhomes and Vingroup’s projects in Hai Phong.
In the stock market, by the end of the trading session on August 20, VHM’s price increased by more than 5% and set a new peak at VND 99,000/share, 2.5 times higher than the beginning of the year. Vinhomes’ market capitalization also set a new record of nearly VND 407,000 billion (~USD 15.5 billion). This is the first time that the enterprise’s capitalization has exceeded the VND 400,000 billion mark.
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