Vietnamese billionaire Pham Nhat Vuong transfers more Vingroup shares to VinEnergo, VinSpeed

Pham Nhat Vuong, chairman of Vietnam’s leading private conglomerate Vingroup (HoSE: VIC), has transferred part of VIC shares he owns to newly-founded companies VinEnergo and VinSpeed, where he holds controlling stakes.

On Tuesday, Vuong transferred more than 70.6 million VIC shares to VinEnergo, an energy firm established in March.

The transaction, valued at over VND706.4 billion ($27.04 million) at par value, was processed through the Vietnam Securities Depository and Clearing Corporation (VSDC).

Following the transfer, Vuong now holds a total of 105.6 million shares in VinEnergo, equivalent to 2.72% of Vingroup’s charter capital, VinEnergo said on Wednesday.

Meanwhile, his transfer of VIC shares to VinSpeed is scheduled to take place between June 24 and July 23, 2025, according to the company’s Wednesday announcement.

VinSpeed, founded in May, said Vuong had registered to shift nearly 87.6 million VIC shares to the company. The shares represent 2.26% of Vingroup’s charter capital.

The transaction, calculated at par value, is worth nearly VND875.6 billion ($33.51 million) and will also be executed through VSDC.

Upon completion, Vuong’s total holdings of VIC shares at VinSpeed will rise to 135.6 million, or 3.5% of Vingroup’s charter capital.

Earlier, VinSpeed said on June 11 that Vuong had completed the transfer of over 48 million VIC shares, equivalent to 1.24% of Vingroup’s charter capital, as a capital contribution to the company.

VinEnergo was established on March 12, 2025, primarily operating in electricity generation and electrical equipment manufacturing.

As for its shareholder structure, billionaire Vuong holds a 71% stake, while his eldest son Pham Nhat Quan Anh and second son Pham Nhat Minh Hoang each owns 5%. The remaining 19% is held by Vingroup.

Vingroup will join a consortium with VinEnergo to invest in a 4,800MW LNG-fueled power project in the northern port city of Hai Phong, according to a resolution approved by Vingroup’s board of directors earlier this month.

In VinSpeed, Vuong holds a 51% stake, while his two sons, Pham Nhat Minh Hoang and Pham Nhat Quan Anh, each own 0.5%. The shareholder structure includes Vingroup with a 10% stake, Vietnam Investment Group JSC holding 35%, and Pham Thuy Hang – vice chairwoman of Vingroup – with 3%.

On May 15, VinSpeed announced its registration to invest in Vietnam’s North-South high-speed railway project.

The behemonth project will have an estimated investment of VND1,562 trillion ($60.24 billion), excluding costs related to compensation, relocation support, and resettlement for land clearance. It is scheduled for completion by 2030.

VinSpeed commits to mobilizing 20% of the total investment capital, equivalent to $12.27 billion. For the remaining 80%, excluding costs related to compensation, relocation support, and resettlement for land clearance, the company proposed borrowing from the state budget, through zero-interest loans, repayable over a 35-year period from the disbursement date.

Pham Nhat Vuong has become the first Vietnamese person to have a fortune of $9 billion, according to Forbes's update on May 8. Vuong ranked 330th in the magazine's listing of the world's richest people.

Vingroup recorded revenue of VND84.05 trillion ($3.3 billion) in the first quarter of 2025, its record high. The figure, mentioned in the conglomerate's Q1/2025 financial statement, represented a 287% surge year-on-year and 28% of the year's revenue target.

For 2025, Vingroup has set ambitious targets of VND300 trillion ($11.54 billion) in revenue and VND10 trillion ($384.54 million) in after-tax profit, up 59% and 88% respectively compared to last year.

Vingroup plans to expand into infrastructure and green energy, complementing its existing pillars of real estate and manufacturing, said Vuong told VIC's 2025 AGM on April 24.

On the Ho Chi Minh Stock Exchange (HoSE), VIC shares closed Thursday at VND89,400 ($3.42) apiece.