Vingroup (VIC) has announced that Vinhomes and a subsidiary of Vingroup have signed an agreement with GIC Private Limited – a Singapore Government’s investment fund. This event marked the continuous participation of Singapore investors, a familiar investor that has been and continues to invest in Vietnam
Accordingly, GIC will invest a total of 1.3 billion USD (equivalent to 29,500 billion VND) in two forms: purchasing in Vinhomes’ shares and providing a debt instrument for Vinhomes (such as loans) to implement the projects. Credit Suisse Limited (Singapore) is the consultant unit of this transaction.
GIC is one of the three investment branches of the Singapore Government and is now one of the largest financial investors in Vietnam capital market. At the present, GIC’s main investments in Vietnam include Masan Group (~ 5% share), Vietjet Air (~ 5% share), Vinamilk (0.7% share), FPT (3.5% share), PAN Group, Vinasun… with the total value of about 15,000 billion VND.
Vinhomes is a subsidiary of Vingroup, in charge of real estate development. The company has chartered capital of 26,377 billion VND and has submitted to list more than 2.6 billion shares on HoSE in early April.
Vingroup currently is the largest company on Vietnam stock market with market capitalization of nearly 340 trillion VND (approximately 15 billion USD). Another subsidiary of Vingroup which was listed is Vincom Retail with market capitalization of 96 trillion VND.