More foreign investors interested in VN’s real estates

VGP - Capital Research and Management Company, Dragon Capital and Mirae Asset Global Investments have made plans to purchase about three-quarters of stakes in the upcoming initial public offering (IPO) of Vinhomes JSC – a realty developer of Vingroup.

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In April, GIC Private Limited, or Government of Singapore Investment Corporation (GIC) has become the largest share holder of Vinhomes, holding 5.74% of the corporation’s stakes.  

Vinhomes’ first-quarter net profit jumped five times against the same period last year to VND3.99 trillion and revenue surged three times to VND10.54 trillion.

Viet Nam’s strong growth prospects, the government’s plan to accelerate equitization and successful private sector IPOs over the past two years have attracted a large number of investors to the nation.

By Thuy Dung