Vingroup's hotel unit Vinpearl shares up 19.9% on listing day

Parent company controls 86% of stock, issue is little traded

20250513 Vinpearl's Grand World Phu Quoc

Vinpearl's Grand World Phu Quoc, inspired by the streets of Venice, Italy, opened in 2021 on one of Vietnam's most popular islands, Phu Quoc. (Screenshot from Vinpearl's website)

MAI NGUYEN

HANOI -- Shares of Vinpearl, the hotel and leisure unit of Vietnamese conglomerate Vingroup, were listed on the Ho Chi Minh City Stock Exchange on Tuesday.

Trading at the maximum allowed price on the first listing day values the company at $5.9 billion, close to the valuations of blue-chip companies such as IT giant FPT and the country's top steelmaker, Hoa phat.

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