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Vingroup Raises $1.3b From Singapore's Gic Via Stake Sale In Units, Loan

by reuters.com posted 11months ago 29 views
* Vingroup identifies one unit at Vinhomes, does not name other. : HANOI (Reuters) - Vingroup VIC.HM has raised $1.3 billion by selling a stake in two of its units to Singapore’s Government Investment Corp and through a loan, also from the sovereign wealth fund, the Vietnamese property developer said on Tuesday. The money raised will be used to fund the units’ projects, Vingroup said, adding that Credit Suisse had arranged the deal. The company in a statement identified one of the units as Vinhomes, which has a chartered capital of 26.38 trillion dong ($1.16 billion).

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