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VinGroup to sell stakes in affiliate

Update: March, 05/2013 - 14:00

HA NOI (VNS) — Property developer VinGroup is offering to sell all of the stakes, worth VND4.05 trillion (US$193.8 million), in its affiliate Fortune Trading and Investment Joint Stock Co, the HCM City Stock Exchange announced. Established in December 2012 with initial charter capital of just VND6 billion ($287,000), Fortune Trading and Investment is wholly owned by VinGroup. In February, VinGroup contributed another VND4.044 trillion to the company in cash, property and land use rights.

The company focuses on property development and trading. — VNS

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