A Gelex Group representative confirmed to VnExpress that Gelex Infrastructure plans to launch its IPO later this year. The company currently has a charter capital of 7,900 billion VND, of which Gelex directly owns over 79%. Nguyen Hoang Long, born in 1977, is the general director and legal representative of Gelex Infrastructure.
Gelex Infrastructure operates in industrial and social housing real estate, energy, construction materials, and clean water production and supply. The company is also the parent company of Viglacera, Song Da Water Investment, and Long Son Petroleum Industrial Zone Investment. All three entities are currently trading on the stock market.
Viglacera is the third-largest company by assets in the industrial real estate sector. It owns 16 industrial parks domestically and internationally, with a total land fund of over 4,500 hectares.
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An industrial park owned by Viglacera, a subsidiary of Gelex Infrastructure. Photo: Gelex Infrastructure. |
An industrial park owned by Viglacera, a subsidiary of Gelex Infrastructure. Photo: Gelex Infrastructure.
This year, Gelex Infrastructure has stepped up its mergers and acquisitions (M&A) activity. In February, the company spent over 900 billion VND to acquire shares of Long Son Petroleum Industrial Zone Investment (PXL), increasing its ownership from 25.5% to 65.5%. PXL is the investor of the Long Son Petroleum Industrial Zone project in TP HCM (formerly Ba Ria - Vung Tau province), Huynh Tan Phat apartment building, and Kinh Bac Petroleum Hotel (Bac Ninh province).
In early August, Gelex Infrastructure spent an additional 619 billion VND to acquire Savico's entire stake in the Luxury Residential Area in Can Gio. The villa area covers approximately 29.83 hectares and is located in Can Gio district, TP HCM.
On 7/8, Gelex Group transferred 49% of its charter capital in Titan Corporation Limited Liability Company to Gelex Infrastructure. Titan Corporation, established in 2022, is a joint venture between Gelex and Frasers Property (Singapore). The Vietnamese representative holds a 49% stake.
Titan Corporation is currently implementing five industrial park projects in Bac Ninh, Hung Yen, and Quang Ninh, with a total area of nearly 100 hectares and a total investment of over 8,000 billion VND.
Trong Hieu
