HCM CITY (VNS)— Real estate developer Nam Long Joint Stock Co will list 95.5 million shares on the HCM City Stock Exchange (HOSE) today with a reference price of VND27,000 per share.
This was announced by Nguyen Vinh Tran, deputy general director of the company, who said that the company wanted to call on more investors as it was implementing many feasible projects for low and medium income people, meeting existing market demand.
The company, which has a charter capital of VND955 billion (US$47.8 million), is one of very few firms in Viet Nam with 20 years of experience focusing solely on real estate project development.
Its strength is that it is one of the biggest land owners with nearly 570ha earmarked for project development in key locations across southern Viet Nam including Binh Duong, Long An, Can Tho, Vung Tau and HCM City.
"Nam Long targets to be among the top three leaders in the affordable housing market, providing an average 2,000 units or more per year. The company also wants to be one of three leading urban area developers in Viet Nam by 2020," Tran said.
For the near future, the company's key business strategies are focused on its affordable housing programme called EHome (Economy – Efficiency – Ecology) and Urban Area Development, which have been successful in the past. — VNS