Vinhomes wants to sell 60 million treasury shares, estimated profit of more than 1,300 billion VND

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Accordingly, Vinhomes will sell all 60 million treasury shares, equivalent to 1.79% of charter capital by order matching and/or agreement method.

The purpose of selling treasury shares is to supplement working capital for the company. The expected transaction time is after the State Securities Commission approves the dossier for the sale of treasury shares and Vinhomes makes information disclosure according to regulations. Translate.

Temporarily calculated according to the market price of VHM on the stock market, the amount that Vinhomes collects can be up to VND 6,900 billion.

The book value of these treasury shares in Vinhomes’ financial statements is about VND 5,550 billion. Thus, after 1 and a half years, the profit that Vinhomes can earn from the sale of treasury shares is more than 1,300 billion dong.

In 2021, Vinhomes sets a revenue target of VND 90,000 billion, up 26% compared to 2020. Profit after tax is expected to reach VND 35,000 billion, up 24%.

Vinhomes Board of Directors said that in 2021, in addition to continuing to launch in Vinhomes Ocean Park, Vinhomes Smart City, Vinhomes Grand Park and new projects, the company will continue to hand over completed apartments to customers.

Particularly in the first quarter, Vinhomes recorded a net revenue of more than 12,986 billion VND, nearly 2 times higher than the same period in 2020. In contrast, profit after tax decreased by 28% to more than 5,477 billion VND.

As of March 31, 2021, total assets of Vinhomes reached VND 207,715 billion, down 3.5%; equity reached VND 94,605 billion, up 6% after 3 months.

VHM shares opened the 9/7 session at 115,000 shares. Market capitalization is estimated at more than VND 373.00 billion.

Source: vietnamfinance.vn – Translated by fintel.vn