Vincom Retail assesses that the retail industry still has a lot of room to develop and the company will increase the size of the commercial center from 41 current centers to more than 70 by 2018 and by 2021 it will reach 200.
The Ho Chi Minh City Stock Exchange (HOSE) announced and awarded the listing decision, celebrating the first trading day of Vincom Retail with stock code VRE. Closing the session at the end of the day, the closing price of VRE reached 40,550 VND / share, bringing the market capitalization of Vincom Retail to over 77 trillion VND, and being in the Top of the largest listed companies on the market.
Attending and witnessing the gong ceremony for the first session were Mr. Nguyen Vu Quang Trung – Deputy CEO of Ho Chi Minh City Stock Exchange, Ms. Tran Anh Dao – Deputy General Director of Stock Exchange securities investment in Ho Chi Minh City and numerous domestic and international investors.
Vincom Retail is the 427th listed member on the Ho Chi Minh City Stock Exchange, and is the first enterprise to operate a commercial center in Vietnam to put shares on the stock exchange. With a total listed volume of 1,901,078,733 shares, the capitalization of Vincom Retail is expected to reach more than 77 trillion VND.Vincom Retail contributes to raising the market capitalization, opening up investment opportunities for investors. Domestic and international investment in shopping mall space leasing is growing strongly in Vietnam.
Vincom Retail is currently the developer, owner and operator of the largest retail shopping mall in Vietnam, with 4 models: Vincom Center, Vincom Mega Mall, Vincom Plaza, Vincom Plus – meeting the diverse needs of consumer segments. use. As of September 30, 2017, the company is managing, operating and leasing 41 shopping centers in 22 major cities and provinces of the country with a total retail space of more than 1.1 million m2, accounting for 60 % market share of shopping centers in two big cities, Hanoi and Ho Chi Minh City. Total assets of Vincom Retail as of September 30, 2017 reached nearly 36,242 billion VND, equity reached 25,150 billion VND. In which, domestic shareholders own 79.8% of the charter capital and foreign shareholders hold 20.2% of the company’s capital, including famous investors in the world such as Warburg Pincus and Credit Suisse. AG.
Representative of Vincom Retail, Ms. Tran Mai Hoa – General Director of the Company – shared: “The fact that Vincom Retail is the first enterprise among the commercial centers operating units to list shares on the Stock Exchange Ho Chi Minh City contract is a very meaningful event in the development history of the Company, promising to bring the company many advantages, such as image and brand name widely advertised, enhancing competitiveness, business value. increase transparency and quality of governance, as well as increase the ability to raise capital in the future for new projects. The retail and consumer market in Vietnam is a very potential market in Southeast Asia, with a young, innovative population and a strong urbanization rate. These are very favorable factors for the modern real estate and retail industry to thrive in the coming years. “
In 2017, the company expects to achieve 4,604 billion dong in revenue and 2,133 billion dong in profit after tax. By 2018, net revenue is expected to reach VND 8,053 billion and profit after tax is expected at VND 3,302 billion, estimated to grow by about 75% and 55% compared to 2017.
From now to the end of 2018, the company plans to open more than 30 Vincom shopping centers, aiming to reach 200 shopping malls by 2021, depending on market conditions. In addition, the company will accelerate the quality upgrade, change the appearance of the shopping centers towards more modern and better respond to the needs of customers of all ages, such as increasing presence. of many famous domestic and international brands, improving the quality of tenants, diversifying products, entertainment services, culinary services.
* Source: Economic life rhythm