Vinhomes, led by billionaire Pham Nhat Vuong, has announced a major restructuring of its subsidiaries, signaling a new strategic move following its historic acquisition of 370 million VHM shares.

Vinhomes Joint Stock Company (HoSE: VHM), where Vuong serves as a member and Vingroup (VIC) is the majority shareholder, has recently revealed plans to split its industrial real estate business into three new subsidiaries, with a total investment of VND 18.5 trillion.

According to the plan, Vinhomes will establish two new subsidiaries from the existing Vinhomes Industrial Investment JSC.

The restructuring involves Vinhomes Industrial Investment JSC maintaining a charter capital of VND 340 billion, with Vinhomes holding a 51% stake. Previously, this company held a charter capital of VND 18.5 trillion before the split.

The two newly formed companies are Vinhomes Industrial Zone Hai Phong JSC, with charter capital of VND 15.16 trillion, and Vinhomes Industrial Zone Vung Ang JSC, with VND 3 trillion. Vinhomes will hold a 51% stake in both enterprises.

By the end of Q2, Vinhomes had a total of 45 subsidiaries.

In July, Vinhomes received approval to develop an industrial park in Ha Tinh, covering nearly 965 hectares. Vinhomes Industrial Investment JSC is the lead investor in this project, with a total investment of approximately VND 13.28 trillion.

Pham Nhat Vuong ventured into industrial real estate in 2020 as Vietnam’s potential to attract foreign investment grew. The industrial real estate market, along with residential sectors in Hanoi and Ho Chi Minh City, is anticipated to benefit again as the COVID-19 pandemic disrupted global supply chains and trade tensions escalated between China and other major economies.

Several large corporations, including Samsung, Intel, Nike, and Adidas, are now shifting production to Vietnam for the long term. The country has advantages such as low labor costs and a wide range of free trade agreements (FTAs).

Vinhomes’ market capitalization has recently rebounded following a substantial share buyback. Over the first nine months of the year, Vinhomes reported consolidated net revenue of VND 69.91 trillion, with consolidated post-tax profit reaching VND 20.6 trillion.

Manh Ha