Foreign investors interested in property developer

Between September 24-28, foreign investors spent nearly 138 billion VND (8.6 million USD) to buy 903,600 shares of real estate developer Vincom (VIC), a newcomer to the Ho Chi Minh City Stock Exchange (HoSE).

According to Nguyen Trung Kien, an expert from Viet Quoc Securities JSC, the company’s current price-earnings (P/E) ratio is lower than 20, which is ideal for investors to purchase.

Making its IPO on the bourse on Sept. 19 with its listed price at 118,000 VND, VIC ended the Sept. 28 trading session at 157,000 VND. The company is owner of an upscale office and shopping complex in Ha Noi and a five-star resort in Nha Trang beach city. Two of its real estate projects in Ho Chi Minh City are being underway.

VNA

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