Vietnamese high-end property vertical VinHomes, which is owned by real estate developer VinGroup, has listed its 2.679 billion shares on the Ho Chi Minh Stock Exchange.

On the face value of VND 10,000/share ($0.44 U.S.), the listed shares are worth  VND 26.796 trillion ($1.18 billion U.S.), according to an announcement. The reference price on the first trading day was VND 92,100 ($4.04 U.S.).

VinHomes (HOSE: VHM) held total assets of VND 94.693 trillion ($4.2 billion U.S.) at the end of March. It operates in 40 provinces and cities.

“The listing of VinHomes has contributed to raising the capitalization of the entire market, opening up opportunities for domestic and international investors to invest in businesses operating in the field of real estate in Vietnam,” the company said in a separate statement.

VinGroup raised VND 29.5 trillion ($1.3 billion U.S.) from Singapore-based sovereign wealth fund GIC  last month in Vietnam’s biggest share sale deal to date (we reported on it here).

Hanoi-based VinGroup Joint Stock Company, formerly known as TechnoCom, launched in Ukraine in 1993. It shifted its focus to Vietnam in 2000. The vertical competes with and

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