Vinhomes spends $198 mln on record share buyback since start
Vinhomes, the largest housing developer in Vietnam, has spent some VND5 trillion ($197.82 million) on buying back its shares since it started its record-breaking plan on October 23.

A view of Vinhomes Ocean Park 1, Gia Lam district, Hanoi. Photo courtesy of the company.
As of November 8, Vinhomes (HoSE: VHM) had bought a total of 113.5 million VHM shares, or 30.68% of the planned 370 million units, according to exchange data.
On November 8, the company purchased 3.08 million shares, the lowest since October 23.
Under its scheme, Vinhomes will purchase up to 370 million shares, or 8.5% of its outstanding shares, from October 23 to November 21. Per regulations, it can place buy orders of between 11.1 million and 37 million shares per day.
Therefore, Vinhomes has nine days left to buy 256.5 million shares, or 28.5 million a day on average, to meet its goal. If successful, it will reduce its charter capital from VND43,543 billion ($1.72 billion) to VND39,843 billion.
At the close on November 8, VHM stood at VND40,000 ($1.58) a share, down 17.1% against October 23 but still 16% higher than the bottom seen in early August when the company first unveiled its buyback plan to bring the market price to its P/B.
Vinhomes now has a market cap of VND174 trillion ($6.9 billion), the fifth largest on the Ho Chi Minh Stock Exchange.
As of September 30, Vinhomes’ total assets value was VND524.68 trillion ($20.76 billion), including VND20.62 trillion in cash and cash equivalents, and VND3.8 trillion in short-term financial investment.
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