VINACONEX CORPORATION OFFICIALLY LISTED ABOUT 442 MILLION VCG SHARES ON HOSE

On December 29, 2020, Ho Chi Minh City Stock Exchange (HoSE) held a ceremony to declare the decision on listing and trading 441,710,673 shares of Vietnam Construction and Import-Export Joint Stock Corporation VINACONEX (Stock code: VCG) on HoSE, with a reference price of VND41,800 per share on the first trading session, equivalent to a market capitalization of nearly VND 18,500 billion.

Since VCG shares were first listed on the Hanoi Stock Exchange in 2008, VINACONEX has always consistently complied with the State's laws on corporate governance for listed firms. The listing on the Ho Chi Minh City Stock Exchange is a special event that marks the beginning of a new development stage for VINACONEX under the motto “INHERITING VALUES, STEADILY SOARING”. Hopefully, the event today would open up cooperative opportunities, attract more diverse and long-term strategic financial sources to continue expanding production and business activities, and invest in effective projects that benefit shareholders, investors, and employees, and contribute to the country's socioeconomic development as well.

Speaking at the ceremony, Mr. Dao Ngoc Thanh, Chairman of the Board of Directors of VINACONEX, committed to fully and seriously implementing the regulations of the State and HoSE for market members, particularly the obligations of reporting, information managing and disclosing, aiming to become one of the national leading enterprises in the construction and real estate fields, one of the most transparent listed companies having effective business and sustainable growth.

VINACONEX (the former Overseas Construction and Service Company) was established on September 27, 1988 under the Ministry of Construction. After 32 years of development, VINACONEX has proven itself as one of the top brands in Vietnam in the field of Construction, Real Estate and Financial Investment, affirming its strength, reputation, and brand name among both local and foreign partners.

Regarding the Construction field, VINACONEX is currently implementing construction projects worth around VND 15,000 billion covering all areas: civil, industrial, infrastructure, traffic constructions. Despite the COVID-19 pandemic affection, the value of VINACONEX's new winning bid package in 2020 reached nearly VND 10,000 billion, ensuring a job source not only for 2020 but also for the following years thanks to the the strategy of focusing on the segment of public-invested infrastructure projects and foreign-invested projects.

As for Real Estate, Vinaconex has a diversified real estate portfolio including residential real estate, resorts, and industrial park real estate, covering about 2,000 hectares in many localities across the country such as Hanoi, Hai Phong, Quang Ninh, Da Nang, Quang Nam, Phu Yen, etc.

In Financial Investment, VINACONEX engages in financial investment activities and M&A activities in enterprises operating in business fields that generates high and stable profit margins such as energy, clean water, education, labor export to maintain or increase the ownership ratio in such enterprises and form the member units of Vinaconex.

Currently, VINACONEX has assets of nearly VND 20,000 billion, 15,000 highly qualified and experienced employees working for about 40 member units and associated companies across the country. Accumulated profit after tax in the first nine months of 2020 was VND 1,451 billion, an increase of 160% year-on-year and equivalent to 177% of the plan approved  by shareholders at the 2020 annual meeting.

VINACONEX aims to rank among the top three construction and installation enterprises as well as the top ten largest real estate investors in Vietnam by 2025, with revenues of VND 30,000 billion, profits of VND 2,000 billion, of which construction and real estate account for 70%. VINACONEX also strives to achieve a growth rate of 15-25% per year and the dividend rate of 12-20% per year.