On the morning of August 7, VHM shares of Vinhomes Joint Stock Company on the HOSE floor rose to the ceiling price of VND37,200 and were often blank on the selling side. VHM's ceiling increase occurred right after Vinhomes announced that it would buy 370 million treasury shares, accounting for 8.5% of the company's total outstanding shares, through order matching or negotiation.

The expected time for the buyback is after the State Securities Commission approves the repurchase registration dossier and the company has announced information about the share repurchase according to regulations. According to the announcement, Vinhomes said that "VHM's market price is lower than the company's real value, the share repurchase is to ensure the interests of the company and shareholders".

It is estimated that based on the current market price of shares on the stock exchange, Vinhomes will spend nearly VND13,800 billion to buy back the above treasury shares. This is the largest deal in the history of the Vietnamese stock market.

The repurchase of 370 million shares will reduce Vinhomes' charter capital by VND3,700 billion. The reduction in the number of outstanding shares will help increase earnings per share (EPS).

According to the Consolidated Financial Report for the first 6 months of 2024, Vinhomes achieved total net revenue of VND 36,429 billion and profit after tax of VND 11,513 billion. This business result mainly contributed to the recording of large lot sales transactions at the Vinhomes Royal Island project and continued handovers at existing projects. Thus, in the second quarter of 2024 alone, the company earned a profit of more than VND 10,600 billion, an increase of nearly 10% over the same period last year. At the end of June, Vinhomes had total assets of VND 494,461 billion and equity of VND 206,783 billion, up 11.2% and 13.2% respectively compared to the end of 2023.