Vinhomes Sells Off Subsidiary in Hưng Yên Province

Key Points

• Vinhomes (VHM) divested its entire stake in Lighthouse 1, a subsidiary in Hưng Yên province.
• Lighthouse 1 was established in July 2024 as a wholly-owned subsidiary of Vinhomes.
• The development is part of Vinhomes Đại An, a $1.4 billion project.
• Vinhomes also established three other subsidiaries with the same registered address: Vịnh Xanh, Vịnh Xanh 1, and Lighthouse.
• VHM shares rose 0.6% to 40,600 VND per share on December 23, 2024.

Detailed Summary

• On December 21, 2024, Vinhomes announced the sale of its stake in Lighthouse 1 to focus on its core business operations.
• Lighthouse 1 was established in July 2024 with a registered capital of nearly 3,053 billion VND, wholly owned by Vinhomes through cash and asset contributions.
• The subsidiary's headquarters is located in Vinhomes Đại An, a large-scale urban development project in the Hưng Yên province.
• Vinhomes Đại An covers an area of over 293 hectares and has a total investment of $1.4 billion, making it one of Vinhomes' significant developments.
• In addition to Lighthouse 1, Vinhomes also established three other subsidiaries in July 2024: Vịnh Xanh (capital of 3,881 billion VND), Vịnh Xanh 1 (capital of 4,334 billion VND), and Lighthouse (capital of 3,053 billion VND).
• Vinhomes, a member of the Vingroup conglomerate, is a leading real estate developer in Vietnam.

Conclusions

• The divestiture of Lighthouse 1 aligns with Vinhomes' strategy to optimize its portfolio.
• Vinhomes Đại An remains a key development project for the company.
• The establishment of multiple subsidiaries indicates Vinhomes' ongoing expansion and diversification in the real estate sector.