Vingroup bond debuts on Singapore Exchange

The international bonds issued by real estate giant Vingroup (VIC) at the beginning of this month hit the Singapore Stock Exchange on November 14.
The international bonds issued by real estate giant Vingroup (VIC) at the beginning of this month hit the Singapore Stock Exchange on November 14.

Vingroup debuted on the international debt capital market with a 200 million USD issuance of 4.5 year bonds, which were snapped up by more than 100 investors.

In the first nine months of this year, Vingroup earned more than 11.6 trillion VND (552.38 million USD), an increase of 129 percent over the same period last year and 95 percent of the company's annual goal.

After-tax profits in the nine-month period reached 6.05 trillion VND (288.09 million USD), up 311 percent over last year.

A majority of the group's turnover in the third quarter came from apartment sales at its two major projects, Royal City and Times City in Hanoi.

The group's other businesses also performed well, including office leases (up 44 percent), hotels (up 31 percent) and healthcare services (up 81 percent).

The total asset value of Vingroup was estimated at 61.58 trillion VND (2.93 billion USD), 5.756 trillion VND (274.09 million USD) higher than the end of 2012.

Each share of the Ho Chi Minh City-listed company currently sells for 66,500 VND (3.12 USD).-VNA

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