Property developer Hung Thinh eyes $200 million proceeds from IPO
Vietnamese property developer Hung Thinh Land is aiming to raise at least $200 million from its initial public offering (IPO) next year, putting up a 10% stake.
With its market value estimated at around $2 billion this May by VinaCapital Group, one of Vietnam’s leading asset management and real estate development companies, the IPO to get listed on the Ho Chi Minh Stock Exchange (HoSE) is expected to meet its target.
A Thursday Bloomberg report cited an unnamed company source as saying that offering a larger stake was also a possibility, depending on investor demand.
Hung Thinh Land is a member of Ho Chi Minh-based Hung Thinh Group, a fast expanding real estate developer in the country with several major projects in its portfolio.
The company recently received a $78 million investment from Vietnam-focused Dragon Capital and another $25 million from VinaCapital Group. The latter said that Hung Thinh Land’s IPO would make it the third largest property developer on the HoSE, behind Vinhomes JSC of Vietnam’s largest listed conglomerate Vingroup, and NovaLand.
Hung Thinh Land’s portfolio includes more than 3,300 hectares across the country. It has been building 59 real estate projects of various types, providing the market with more than 30,000 products. The finished projects in HCMC include Lavita Charm apartments, Boulevard apartments, SaigonMia apartments, and Moonlight Residences.
In hospitality real estate, the company is a leading developer with prominent projects across the nation. One of them is the $2.5 billion Merry Land Quy Nhon resort, covering up to 695 hectares in Quy Nhon town, the central coastal province of Binh Dinh.
An artist’s impression of part of Merry Land Quy Nhon resort complex, invested by Hung Thinh Group, in Quy Nhon town. Photo courtesy of the corporation.
The complex will have Vietnam’s largest and longest water music square, the longest canal system in Vietnam, an 18-hole golf course, a marina, and two yachts. Facilities in the area will be operated by U.S.-based Marriott International. The firm started construction in 2021.
The U.S.-based Boston Consulting Group and Hung Thinh Group launched in January a partnership to develop another large-scale tourism development project in Quy Nhon.
The project, set for completion by 2030, aims to help make the south-central town a leading tourist destination in Asia. The partners have not revealed the estimated investment for the mammoth project. On March 14, 2022, the partnership and Quy Nhon’s administration started works on the project after an initial survey conducted by Boston Consulting Group.
The study determined that marine tourism was Quy Nhon’s core asset in the hospitality sector, boasting 72 kilometers of beautiful coastline and many beaches on par with the most famous destinations in Asia.
“We are working on building a vision so this city can become a leading tourism destination in Asia and the world,” said II-Dong Kwon, CEO of Boston Consulting Group Vietnam who heads the partnership.
- Read More
Gold exchange, gold derivatives, gold ETFs proposed to be launched in Vietnam
Forming a gold exchange under state management in Vietnam is suitable to the reality, said Dao Xuan Tuan, head of the foreign exchange management department under the State Bank of Vietnam (SBV).
Finance - Wed, October 22, 2025 | 9:00 pm GMT+7
Real estate major Novaland wins key approval for $5 bln project in central Vietnam
Novaland Group (HoSE: NVL), one of Vietnam’s leading property developers, has received investment approval for its flagship project worth $5 billion in the central province of Lam Dong after years of delay due to legal obstacles.
Real Estate - Wed, October 22, 2025 | 4:20 pm GMT+7
Vietnam's plastics heavyweights Tien Phong, Binh Minh report profit surges
Tien Phong Plastic (HNX: NTP) recorded pre-tax profit of nearly VND949 billion ($36.04 million) in the first nine months of the year, exceeding its full-year target by 10.85%, while Binh Minh Plastic (HoSE: BMP) achieved record net profit of VND350 billion ($13.29 million) in Q3, surpassing its VND330 billion milestone set in the previous quarter.
Companies - Wed, October 22, 2025 | 4:17 pm GMT+7
Vietnam, Finland firms sign multiple MoUs on satellite, cybersecurity, aviation partnerships
A series of cooperation agreements were signed between Vietnam and Finland on Tuesday, within the framework of Party chief To Lam's official visit to Helsinki, while bilateral relationship was lifted to a "strategic partnership".
Economy - Wed, October 22, 2025 | 12:43 pm GMT+7
Trung Nam Ca Na seeks to convert agri-forest land for $147 mln industrial park in central Vietnam
Industrial park developer Trung Nam Ca Na is seeking approval to convert about 170 hectares of agricultural and forest land for the construction of a VND3,875 billion ($147 million) project in Vietnam’s central coastal province of Khanh Hoa.
Industrial real estate - Wed, October 22, 2025 | 10:54 am GMT+7
PV Power's arm posts 5-fold jump in Q3 profit on margin recovery
PetroVietnam Power Nhon Trach 2 JSC (HoSE: NT2) reported a sharp rebound in third-quarter earnings as improved margins and higher revenue lifted profits nearly fivefold from a year earlier.
Companies - Wed, October 22, 2025 | 8:37 am GMT+7
TCBS overtakes SSI to become Vietnam’s largest securities company by market cap
Over 2.3 billion shares of Techcom Securities JSC (TCBS) debuted on the Ho Chi Minh City Stock Exchange (HoSE) on Tuesday. The stock, TCX, recorded the highest price and the largest market capitalization in the Vietnamese securities sector.
Finance - Tue, October 21, 2025 | 10:27 pm GMT+7
Indonesia’s palm oil industry becomes investment magnet
Indonesia’s palm oil sector attracted IDR52.7 trillion, or approximately $3.2 billion, in investment during the first nine months of this year, with the money going into enabling the country to capture more value out of its top commodity, the country’s Ministry of Investment reported.
Southeast Asia - Tue, October 21, 2025 | 9:34 pm GMT+7
Indonesia reports strong job, investment growth
The Indonesian Coordinating Ministry for Economic Affairs reported strong job and investment growth during the first year of President Prabowo Subianto’s administration, compared with the first year under his predecessor.
Southeast Asia - Tue, October 21, 2025 | 9:29 pm GMT+7
Singapore grants conditional approval for 1GW low-carbon power import from Malaysia
Singapore has granted conditional approval to import 1 GW of low-carbon electricity from the Malaysian state of Sarawak, marking a new phase in the energy partnership between the two countries.
Southeast Asia - Tue, October 21, 2025 | 9:26 pm GMT+7
Margin lending in Vietnam’s stock market hits record, but not worrisome
Despite margin debt in Vietnam’s stock market surging sharply, experts believe that current margin pressure is not yet a major concern as top securities firms have significantly strengthened their capital buffers.
Finance - Tue, October 21, 2025 | 4:23 pm GMT+7
Lenders in Vietnam now in low-rate lending race: ACB exec
The biggest “headache” for banks in Vietnam now is that profit margins are getting thinner, said CEO of Asia Commercial Bank (ACB) Tu Tien Phat.
Banking & Finance - Tue, October 21, 2025 | 4:00 pm GMT+7
PV Gas - 35 years of innovation and technological leadership in Vietnam’s gas industry
Over the past 35 years of establishment and development (1990-2025), PV Gas, a subsidiary of state-owned giant Petrovietnam, has affirmed its pioneering position in Vietnam’s gas industry, marked by a series of groundbreaking achievements in science and technology.
Companies - Tue, October 21, 2025 | 3:45 pm GMT+7
Vietnam's consumer finance major F88 achieves 90% of year's profit target after 9 months
F88 Investment JSC (F88), a leading consumer finance company in Vietnam, reported a cumulative pre-tax profit of VND603 billion ($22.88 million) in the first nine months of 2025, a 2.5-fold increase year-on-year, reaching 90% of its full-year target of VND673 billion.
Companies - Tue, October 21, 2025 | 3:15 pm GMT+7
Vietnam corporate earnings to be driven by credit expansion, trading activity, property recovery
With Q3 earnings season underway, results are expected to come in broadly in line with expectations. Financials should remain the largest contributors, benefiting from credit expansion and trading activity, while real estate continues to recover as project launches and sales rates improve, writes Tung Dang, associate director at Dragon Capital.
Economy - Tue, October 21, 2025 | 2:33 pm GMT+7
Inland port opens in southern Vietnam province Tay Ninh, set to become border logistics hub
The 16.5-hectare Tan Cang-Moc Bai inland port in Tay Ninh province, southern Vietnam has been opened, offering logistics services and handling customs clearance for imports and exports.
Infrastructure - Tue, October 21, 2025 | 12:03 pm GMT+7





















