Property firms to list shares

The HCM Stock Exchange will receive today three property related companies to its board, increasing the total number of listed companies to 173, including four investment funds.

The Van Phat Hung (VPH) has a chartered capital of over VND200.83 billion (US$11.2 million), equivalent to 20.083 million shares. The reference price is set at VND30,000.

The HCM City-based firm specialises in real-estate business and investments in industrial parks and urban areas.

The Hoang Long Group (HLG), headquartered in Long An Province, is capitalised at almost VND288 billion ($16 million). The reference price for its 28.8 million shares will be VND30,000.

Hoang Long is best known as a taxi company, but its operations cover other areas including construction, real estate, seafood processing and mining.

The Vien Nam Land Investment Corp (VNI) has a chartered capital of VND9105.6 billion.

The HCM City-based VNI focuses on investing in the development of real estate projects. Its reference price of VND25,000 will be allowed, like the other two companies, to fluctuate 20 per cent.

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