FLCHomes to list share on Vietnam’s main stock exchange in June

The company has completed the listing documents and submitted them to the Ho Chi Minh Stock Exchange. The FHH shares will be traded on Vietnam’s main bourse in June, said Huong Tran Kieu Dung, chairwoman of FLCHomes.

She added that June will be the right time for the listing when the stock and real estate market recover.

FLCHomes has cut sharply 2020 net profit to a third of last year’s achievement due to coronavirus outbreak. The company estimates the 2020 net profit at VND257 billion from the total revenue of VND1.5 trillion.

Real estate will be the core business of the company. Revenue target from this segment is expected to account for 40% of total revenue in 2020.

The company will continue to exploit ongoing projects in Lao Cai, Ha Long, Sam Son, Kom Tum, Sa Dec, and Quy Nhon with a total target sales of 1,786 homes.

At the same time, the company implemented projects in Hanoi, Quang Ninh, Hoa Binh, Gia Lai, Soc Trang, Dak Nong, Ca Mau, Bac Lieu, and Hau Giang with a plan to supply 2,130 units.

In 2019, FLCHomes reported total revenue of VND1,512 billion and after-tax profit of VND257 billion, exceeding 37% and 42% of the plan respectively.