The official website of Vincom Retail
Not for distribution in whole or in part in the United States – Vincom Retail lists 1.9 billion shares under “VRE” ticker
Ho Chi Minh, November 6, 2017 — Ho Chi Minh City Stock Exchange (HOSE) today welcomed the listing of Vincom Retail Joint Stock Company under ticker symbol “VRE”, the first shopping mall developer and operator to list on the stock exchange. Vincom closed the first day trading at VND 40,550 per share, valuing Vincom Retail at more than VND 77,000 trillion and making the company one of the largest listed companies in Vietnam.
The listing ceremony was hosted by Mr. Nguyen Vu Quang Trung, Standing Deputy General Director of Ho Chi Minh City Stock Exchange, and Mrs. Tran Anh Dao, Deputy General Director of Ho Chi Minh City Stock Exchange, and attended by domestic and international investors.
With 1,901,078,733 shares being listed, Vincom Retail is the 427th member to have listed its shares on Ho Chi Minh City Stock Exchange, providing domestic and international investors access to the rapidly growing retail sector in Vietnam.
Vincom Retail is the largest developer, owner and operator of retail malls in Vietnam, offering four mall concepts including Vincom Center, Vincom Mega Mall, Vincom Plaza and Vincom Plus that are tailored for a variety of consumer needs. As of September 30, 2017, the Company has developed, managed and operated 41 retail malls in 22 cities and provinces nationwide with a total retail gross floor area (GFA) of more than 1.1 million square meters, with 60% of market share in the key cities of Hanoi and Ho Chi Minh City combined. The total assets of Vincom Retail were nearly VND 36,242 billion as of September 30, 2017, and owner’s equity was VND 25,150 billion.
Vincom Retail was incorporated in 2012 by its controlling shareholder, Vingroup, which transferred three malls into its portfolio in early 2013. In 2013, a Warburg Pincus-led consortium made a US$200 million investment in the Company, providing capital to fund its accelerated expansion plans. In 2015, the Warburg Pincus-led consortium invested an additional approximately USD100 million into Vincom Retail. Since its inception, Vincom Retail has grown over ten times and has now become the only nationwide network of retail malls in Vietnam catering to the rapidly growing Vietnamese consumer market.
Tran Mai Hoa, Chief Executive Officer of Vincom Retail, stated, “Our successful public listing on the Ho Chi Minh City Stock Exchange marks the next chapter in Vincom Retail’s evolution as we continue to lead Vietnam’s commercial and retail property industry. Vietnam represents a great opportunity for investors to gain access to the fastest growing consumer market in Southeast Asia, benefitting from the rapid urbanization of Vietnam’s young and energetic population. This is an important demographic that we believe will continue to drive growth in modern retail in the years ahead.”
Vincom Retail has more than 30 Vincom shopping malls that are scheduled to open by the end of 2018 and is targeting a portfolio of 200 malls by 2021, subject to market conditions and the availability of suitable sites. In addition, the company is continuously striving to further improve its service quality, modernize the look and feel of the shopping centers in order to serve a wider range of customers, attract more recognized international brands, and diversify its product mix in categories such as entertainment and cuisine.
CONTACT
Nguyen Phuong Linh
+8424 3974 9999
This release is not an offer for sale of securities in the United States. Vincom Retail’s shares may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Vincom Retail does not intend to register any offering of securities in the United States or to conduct a public offering of securities in the United States.