HCMC – Vinhomes JSC (HOSE: VHM) has set up two new subsidiaries as part of a restructuring initiative.
The new companies are created by restructuring Vinhomes Industrial Zone Investment JSC (VHIZ), which will continue to operate with reduced charter capital.
Before the split, VHIZ had total charter capital of VND18.5 trillion. Following the separation, its capital has been decreased to VND340 billion.
The new subsidiaries, Vinhomes Industrial Investment Haiphong JSC and Vinhomes Industrial Investment Ha Tinh JSC, have been allocated VND15.16 trillion and VND3 trillion, respectively.
The three companies are all based at Vinhomes Riverside urban area in Hanoi City. Vinhomes holds a 51% stake in each of the three entities.
Currently, VHIZ is the primary investor in the Vinhomes Vung Ang project located in Vung Ang Economic Zone in Ha Tinh Province. The project spans over 964.8 hectares and has a total investment of nearly VND13.3 trillion, with investor contributions totaling around VND2 trillion.
By the end of September, Vinhomes had a total of 45 subsidiaries. The establishment of these new companies increases this number to 47.
In the third quarter, Vinhomes reported a 2% increase in revenue to VND33.3 trillion. However, its net profit dropped by 26% to VND7.9 trillion.
For the first nine months of the year, Vinhomes earned VND69.9 trillion in revenue and VND19.6 trillion in net profit, reflecting declines of 26% and 39%, respectively.
Closing the trading session today, November 5, VHM stayed flat at VND41,500, with a matching volume of 14.1 million shares.
With 187 winners and 168 losers, the Hochiminh Stock Exchange moved sideways on Tuesday closed with a slight increase of 0.08%, gaining 1.05 points to 1,245.76 points.
Total trading volume and value on the southern market dropped 28% and 26%, respectively, totaling 416.4 million shares worth nearly VND11 trillion. Block deals contributed 83.6 million shares valued at VND2.78 trillion to the overall value.
The VN30 basket, which groups the 30 largest-cap stocks, saw 11 advancers and nine decliners.
GVR rose the highest, up by 1.7% to VND32,100. SHB increased just under 1% to VND10,550. In contrast, CTG was the steepest decliner, inching down by 1.8% to VND35,050.
TPB, TCB, VPB, and VHM showed the highest matching volume in the group, trading between 9.25 million and 14.1 million shares, all closing at reference prices.
Real estate developer DXG took the lead by liquidity on the southern exchange with over 18.6 million shares changing hands.
The Hanoi Stock Exchange also reported gains, with 81 stocks rising and 57 others dipping. The HNX-Index added 0.4 point, or 0.18%, to 224.86 points. Total trading volume on the northern market was over 45.1 million shares worth a total of VND763.1 billion.
