Two companies listed on the HCM Stock Exchange on Tuesday - the Ha Noi-headquartered Ocean Group and Binh Duong Trading and Development Joint Stock Company based in the province of the same name.
Both companies had a reference price of VND30,000 and both went up by the maximum allowed 20 per cent to close at VND36,000.
Ocean Group (OCG), which has interests in real estate development and finance, has a chartered capital of VND2.5 trillion (US$131 million), with institutions holding an 80 per cent stake.
The company plans to increase its capital to VND3 trillion this year.
Chairman Ha Van Tham said his company earned a pre-tax profit of VND109 billion ($5.7 million) in the first quarter.
It targets VND1 trillion gross profit this year on a turnover of more than VND2 trillion. Around 70 per cent of the profit will come from real estate projects like the VNT Tower Nguyen Trai and Starcity Le Van Luong commercial and residential complex in Ha Noi and the Minh Duc Industrial Park in Hung Yen Province.
Binh Duong Trading and Development Company (TDC) has a chartered capital of VND200 billion with the State holding more than 60 per cent.
It plans to increase it to VND300 billion this year.
The company's activities include import and export services, investment in and development of residential and industrial infrastructure, construction, building materials manufacture, and financial investment.
Its ongoing projects include the VND51 billion Phu My apartment and the VND1.325 trillion Uni-Town project, both in Binh Duong.
TDC expects to earn a net profit of VND82 billion this year, up from VND58 billion last year. It is expected to pay a dividend of 20 per cent this year.