Vincom Retail plans $600 million IPO

The largest owner and operator of shopping malls in Vietnam has received a fresh US$100 million investment from a consortium led by a U.S. fund, in one of the country’s largest investments by a private equity firm. A follow-on minority investment of approximately $100 million has been given by a consortium led by an affiliate of Warburg Pincus to Vincom Retail, the retail unit of Vingroup, Vietnam’s leading property firm, the Vietnamese company announced Monday. Warburg Pincus is a leading global private equity firm focused on growth investing, whereas Vingroup is the largest publicly-traded real estate developer and one of the largest companies by market capitalization in Vietnam. The latest funding brings the total investment in Vincom Retail to date by the Warburg Pincus consortium to $300 million, making it one of the largest investments by a private equity firm ever in Vietnam, according to Vingroup. The Warburg Pincus consortium made the first investment of $200 million to help build out Vincom Retail in May 2013. Vincom Retail, the largest shopping mall operator in Vietnam, currently has 20 malls in operation or under development. The existing prime assets of Vincom Retail include Vincom Dong Khoi and Vincom Thu Duc in Ho Chi Minh City; Vincom Ha Long in the northern province of Quang Ninh; Vincom Ngo Quyen in the central city of Da Nang; and Vincom Ba Trieu, Vincom Long Bien, Vincom Mega Mall Royal City and Vincom Mega Mall Times City in Hanoi. The Vincom Retail malls are home…... [read more]

Vincom Retail in Ba Trieu Street, Ha Noi is one of the most attractive destinations in the city. — VNS Photo... [read more]

Electronics retailer Tran Anh Digital World JSC said it will close its electronics supermarkets in Vincom's Times City and Royal City on February 24. The closure was announced after Vingroup, the owner of the two retail and entertainment complexes, said it plans to occupy the rented space. Tran Anh Digital made the announcement regarding the closures on February 12, saying it is committed to ensuring warranty and other services for customers purchasing products at the two supermarkets. The company also said it is looking for new retail space. This year, Tran Anh is expected to open about five new supermarkets in the northern provinces and about four new ones in Ha Noi, including those being closed at the Times City and Royal City. Going forward, the firm will open four new supermarkets in the AEON Long Bien commercial centre in Ha Noi and Hai Phong, and the Bac Giang and Thai Binh provinces. Vingroup's recalling the retail space in the two complexes is said to be in anticipation of its newly-established VinPro Trading and Services Company Ltd occupying the vacated space. The firm, based in HCM City, has a charter capital of VND50 billion (US$2.38 million), with VND47 billion ($2.23 million) contributed by Vingroup. In a plan updated on January 3 this year, VinPro said it will also aim to enter the electronics goods retail market from March onwards. It will officially inaugurate four electronics supermarkets in Vincom Dong Khoi and Vincom Thu Duc in HCM City, and in Times…... [read more]

Nhan Dan Online - Vingroup has officially launched its Vinhomes brand, which specialises in luxury serviced apartments and villas. Vinhomes offers customers a superior standard of living - a perfect combination of residential properties and high-end service system given to residents living in Vietnam's leading large-scale urban areas, developed by Vingroup. With the launch of Vinhomes, from November 20, 2013, residents at Royal City, Times City and Vincom Village in Hanoi; Vincom Dong Khoi in Ho Chi Minh City and other future real estate complexes now have a chance to enjoy daily life with five star services that were previously only available at premium serviced apartments or luxury hotels. Services offered by Vinhomes include housing services - cleaning, laundry, planting; 24/7 door-to-door cuisine services; technical services - electricity, water equipment repair and replacement; security services and office services - photocopying, printing, airline booking agents, car rental, express delivery and flower delivery. On top of providing a comprehensive set of services, Vinhomes ensures a high-quality living environment with such luxury facilities as heated swimming pools, luxurious lobbies and state-of-the-industry utility systems produced by prestigious brands, as well as Vingroup's own developments in the fields of education, health care, sports, culture, entertainment and shopping. Vinhomes also connects and organises the community by running public activities such as sports and clubs, which create a civilised community and a truly happy living environment. With a diversified range of products and services to meet all the needs of the residents 24/24, Vinhomes has become a…... [read more]

Residents in Vincom Ba Trieu can enjoy one-year free of management fee from next month.— Photo HA NOI (Biz Hub) — Vingroup will run a big promotion programme for apartment residents of their five-year-old Vincom Ba Trieu in Ha Noi and three-year-old Vincom Dong Khoi in HCM City. Accordingly, Vingroup will waive all charges for management services for residents for one year from next month and reduce the management fees to VND10,000 (US$0.47) per sq.m over the next five years. The current management fee is VND16,000($0.76) per month The group will also reduce the utility price for water to VND30,000 ($1.4) per cu.m, nearly one third of the current price, over the next 5 years. Previously, Vingroup announced special deals that offer free management fees for residents of Royal City, Times City and Vincom Village for 10 years, together with free access to their swimming pools, tennis courts and other sport facilities. The group has sold around 4,000 apartments in Royal City and Times City so far, excluding a further 2,000 apartments which would be coming available over the next two years.—VNS... [read more]

Nhan Dan Online - Owners of villas or apartments in Vingroup's Royal City, Times City and Vincom Village developments will enjoy 10 years free of service charges, Vingroup have announced in a press release. Under the campaign, customers pay only power, water and communications fees according to their actual consumption. The company has also set a special price for hot water. Additionally, the construction of public utilities such as Vinschool kindergarten, Vinmec international hospital branches and 24/24 convenient stores is planned in each residential area. Vingroup has also enacted other favourable service policies for residents. Each Times City apartment owner will be given a full scholarship for the first year and 50% scholarships for the following two years at Vinschool kindergartens, primary and secondary schools. Each apartment or villa owner in Vincom Village, Royal City and Times City will be presented with a general health insurance card, which covers two adults and two children for care at Vinmec International General Hospital. Full two-year scholarships to Vinschool kindergarten will also be offered to each apartment owner in Royal City. Apartments in Vincom Ba Trieu in Hanoi and Vincom Dong Khoi in Ho Chi Minh City purchased years ago are also expected to benefit from Vingroup's campaign. Hanoi's biggest indoor swimming pool, located in Times City, is scheduled to be operational by the end of November, while the lobbies at Royal City and Times City will be completed later this month. Vincom Village... [read more]

Vingroup’s leaders said that the US$100 million loan will be disbursed in October with Libor interest rates of 5.5% per year and will be paid gradually for three years. The loan aims to develop Vingroup’s future real estate projects. Credit Suisse AG (Singapore), Maybank Investment Bank Berhad and Deustche Bank AG (Singpaore) will arrange the loan. With the loan, Vingroup will become the first property company in Vietnam to approach the international syndicated loan market successfully. Earlier, Vingroupwas the first Vietnamese business to issue the US$100 million international convertible bond in 2009. Last year, Vingroup issued US$300 million convertible bonds. In May 2013, Vingroup and investment fund Warburg Pincusofficially signed an agreement under which Warburg Pincus will invest US$200 million to buy 20% of shares from Vincom Retail, a branch of Vingroup which aim to possess, manage and develop world class trade centres.... [read more]

Vingroup announces Maximark takeover deal Quoc Hung By Quoc Hung - The Saigon Times Daily Shoppers examine products at Maximark Cong Hoa in HCMC. Vingroup on October 26 announced a deal to acquire An Phong Investment Corporation’s entire stake at Maximark supermarket chain HCMC - Vingroup on October 26 announced a successful deal to acquire An Phong Investment Corporation’s entire stake at Maximark supermarket chain in its foray into the local retail market. Nguyen Thi Anh Hong, managing director of An Phong Investment Corporation that is the owner of Maximark supermarkets, confirmed the deal when reached by the Daily on October 26 afternoon. Hong said it took about two weeks for the two parties to complete negotiations over the acquisition but declined to unveil the value of the deal. An Phong will remain in place after selling its Maximark supermarket chain to Vingroup. The locally-invested store chain is present in south-central and southern provinces with Maximark Ba Thang Hai, Maximark Cong Hoa, Maximark District 2 and Maximark Go Vap in HCMC; Maximark Nha Trang and Maximark Cam Ranh in Khanh Hoa Province; Maximark in Ninh Thuan Province; and Maximark Bien Hoa in Dong Nai Province. Vingroup said the Maximark supermarkets would be converted into stores or malls of the VinMart, VinMart+ and Vincom Retail brands after the company completes all procedures for the takeover. Vingroup said the acquisition of the Maximark chain is part of its strategy to expand its distribution and retail operations, especially in the southern region. Le…... [read more]

Viet Nam News HÀ NỘI - The Việt Nam Figure Skating Championship wraps up today at the Vincom Ice Rink Thảo Điền in HCM City. Thirty-five skaters in the 5-19 age group are performing across six levels: senior; junior; basic novice A; basic novice B; pre-novice and juvenile. Khánh Linh and Châu Anh, who won gold and bronze medals at the Skate Asia 2016 in Malaysia, are also competing at the event. The event was co-organised by the National Sports Administration and southern Vincom Retail Company. It is supported by the International Skating Union and Asian Skating Union.- VNS... [read more]

VinaCapital and Warburg Pincus to invest in hotel venture Le Hoang HCMC – U.S.-based Warburg Pincus and Vietnam’s VinaCapital announced last week that they would jointly invest US$300 million in a hotel venture in Southeast Asia, Reuters reported. This will include acquisitions, development and operation of hotels in the region, where tourist numbers are expected to triple over the next decade, especially from China. The news agency quoted Don Lam, founder of VinaCapital, as saying in a press conference that they look forward to contributing their strong acquisition capabilities and local resources to build a hospitality platform of the highest quality and scale in the region. The venture will seek to expand by buying and revamping hotels in major cities and developing luxury resorts across Southeast Asia, the statement said. This joint venture will accelerate the expansion by acquiring hotels in major cities, and then renovate them. Simultaneously, it will develop luxury resorts in Southeast Asia. VinaCapital is one of Vietnam’s largest private equity firms with a diversified portfolio of US$1.4 billion in assets under management, while Warburg Pincus has made investments of more than US$2.5 billion in real estate across Asia. Warburg Pincus has poured capital into Vincom Retail, the Vietnamese operator of a shopping center system of Vingroup in the country. Particularly, it invested an additional US$100 million in Vincom Retail, bringing its total to US$300 million.... [read more]

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