With assets of nearly 600 million USD, Mr. Ho Xuan Nang reveals new ambition

The classic acquisition that took place 3 years ago helped Ho Xuan Nang earn 600 million USD. The name “Jewish” Nang is now more prominent after the tile tycoon attacked a new field.

The classic acquisition that took place 3 years ago helped Ho Xuan Nang earn 600 million USD. The name “Jewish” Nang is now more prominent after the tile tycoon attacked a new field.

Last week, VCS shares of Vicostone JSC continued to rise to a new record high: 205,600 VND/share. Thus, in just over 6 months, VCS shares have doubled in price, helping Mr. Ho Xuan Nang (Chairman of VCS)'s wallet to nearly 13.2 trillion VND, equivalent to nearly 580 million USD.

The classic acquisition of Vicostone helped Mr. Ho Xuan Nang, from an agricultural researcher and secretary to the Chairman of Vinaconex (formerly the parent company of VCS), become a tycoon owning assets worth tens of thousands of billions of VND on the stock exchange.

After “selling itself” to a competitor, Vicostone grew more than 20 times to become a $730 million company in just 3 years. VCS became a “super stock” with a price increase of thousands of percent, much higher than the speed of the general stock market.

Vicostone’s capitalization is even double that of its “parent company” Vinaconex (VCG). Vicostone continues to be one of the largest quartz slab manufacturers in the world and its business results have grown steadily over the years.

Mr. Ho Xuan Nang.

The overwhelming success of the acquisition helped him enter the top 5 richest people on the stock exchange, however, Mr. Ho Xuan Nang's ambition is still very big.

Mr. Ho Xuan Nang has just entered the education sector by becoming the new President of Thanh Tay University. Dr. Dam Quang Minh, former Principal ofFPT University, is the new principal of the school.

The school's operating model is based on the operating model of US universities and the experience of successful private universities in Vietnam such as FPT University, Hoa Sen University and Duy Tan University.

The stock market continues to witness the breakthrough of many pillar stocks on the floor such as Vingroup (VIC) of Pham Nhat Vuong, Mobile World (MWG) of Mr. Nguyen Duc Tai, VPBank (VPB) of Mr. Ngo Chi Dung, Saigon Beer - Sabeco (SAB)...

Many other leading stocks also have impressive business results and are likely to become pillars when the stock market is at its highest level in the past decade: 820.95 points.

Vinh Hoan Corporation, the country's largest pangasius processor and exporter, recorded revenue of 211 million USD from exports in the first nine months, a slight increase in the context of the US continuing to tighten control of imports from countries including Vietnam.

Many stock stocks are trading well such as: VCI, BVS, HCM… Real estate, construction and building materials stocks are still having positive developments such as: VCG, HBC, DXG, KBC….

Banking stocks performed positively with VPBank (VPB) rising to a new record high: VND40,200/share.

With this price, the capitalization of the bank, which used to be in the bottom of VPBank, has now skyrocketed to 60.2 trillion VND (equivalent to 2.64 billion USD). VPBank Chairman Ngo Chi Dung, along with his wife and mother, holds hundreds of millions of shares, worth a total of nearly ten trillion VND, making him one of the 10 richest on the stock market.

The stock market hit a new high.

Overall, the stock market is assessed to have a positive long-term outlook. The scale and quality will continue to increase strongly, and this is an attractive factor for large investors in the world.

In general, the market's recent gains have been mainly driven by positive developments in large-cap stocks. Liquidity has not improved much. This is a sign that the market's sideways and divergent trend is likely to continue in the short term.

However, the large domestic and foreign demand for pillar stocks on the floor is reflecting investors' greater optimism about the market's upward trend.

In the medium term, the indices are still maintaining a fairly solid upward trend. The target of the VN-Index is expected to be at 835-840 points. However, BVSC also notes the possibility that the market will face strong pressure and correction when approaching the strong resistance zone mentioned above. The index's near resistance zone is at 824-826 points and 835-840 points. The index's near support zone is at 808-812 points and 798-802 points.

At the close of trading on October 13, VN-Index increased by 5.08 points to 820.95 points; HNX-Index increased by 0.73 points to 109.11 points. Upcom-Index decreased by 0.27 points to 53.97 points. Liquidity reached 205 million shares traded. Value reached about 4 trillion VND, lower than the average level of the bustling weeks of nearly 4.8 trillion VND in June-July.

Source: https://vietnamnet.vn/tai-san-gan-600-trieu-usd-ong-ho-xuan-nang-lo-tham-vong-moi-404900.html