Vinpearl prepares for IPO by end of 2024

May 06, 2024 | 12:42

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Vingroup is expediting the necessary procedures to list Vinpearl on the Vietnam stock exchange by the end of this year.

At the company's AGM at the end of April, Vingroup chairman Pham Nhat Vuong spoke about IPO plans for Vinpearl and Xanh SM.

Vinpearl prepares for IPO by end of 2024

Vinpearl is one of the largest tourism, resort, and entertainment service brands in Vietnam, encompassing a wide range of offerings such as hotels, resorts, spas, conference centres, dining options, golf courses, and international-standard amusement parks.

Vingroup owns 45 establishments under the Vinpearl brand, located in 17 cities and provinces, with a total capacity of over 18,500 hotel rooms and villas. These establishments include three theme parks and two entertainment complexes, as well as two wildlife conservation parks and four golf courses. Vingroup has plans to continue expanding its scale both in Vietnam and worldwide in the near future.

In 2023, Vinpearl recorded a net profit of $27.9 million, equivalent to $76,250 per day. This marks the second consecutive profitable year for the company after a period of losses due to the impact of the pandemic. However, Vinpear's profit the previous year decreased by over 80 per cent compared to 2022.

In 2024, Vinpearl expects the market to continue its strong recovery, particularly with international tourists. The company aims to achieve exceptional growth compared to 2023 by maximising guest attraction, leveraging sales channels, and implementing new marketing strategies.