Vinpearl Shares Surge by Limit in Vietnamese Trading Debut
Shares of Vinpearl JSC jumped by the limit in their trading debut as the hospitality unit of Vietnam's largest business empire became one of the country's biggest listed companies.
The stock soared 20% to 85,500 dong on the Ho Chi Minh City Stock Exchange as of 9:27 a.m. Tuesday after listing about 1.793 billion shares at an initial price of 71,300 dong apiece. That gave the company, a unit of Vingroup JSC, a market value of around 153.3 trillion dong ($5.9 billion), placing it among the largest stocks in the benchmark VN Index.
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