Vingroup chairman contributes $379 mln worth of shares to energy arm VinEnergo
Billionaire Pham Nhat Vuong, chairman of Vietnam’s leading private conglomerate Vingroup (HoSE: VIC), will transfer ownership of more than 60 million VIC shares to its energy arm VinEnergo.
Illustration of the 4,800 MW Hai Phong LNG-to-power plant, developed by Vingroup, in Hai Phong city, northern Vietnam.
With VIC closing last Friday at VND176,500 ($6.7) per share, the total value of the transaction would exceed VND10 trillion ($379 million).
After the transaction, Vuong will still hold 389.92 million VIC shares, representing a 10.04% stake. Meanwhile, VinEnergo will hold 165.7 million VIC shares, equivalent to 4.27%.
On September 26, Vingroup broke ground on the infrastructure development project for the Tan Trao Industrial Park (Phase 1), along with the 4,800 MW Hai Phong LNG-to-power plant project, set to become the largest in Vietnam and among the world's leading LNG power plants.
VinEnergo, founded by Vingroup chairman Pham Nhat Vuong in March 2025, aims to become a leading provider of sustainable energy solutions. The company focuses on five strategic areas, namely renewable energy, carbon credits, resource optimization, energy storage technologies, and new energy technologies like hydrogen and green ammonia, all with the goal of building a sustainable future for both Vietnam and the world.
In line with the government’s push for renewable energy development and usage, VinEnergo aims to be a front-runner in implementing large-scale renewable energy projects both domestically and internationally.
It plans to develop renewable energy across the central province of Gia Lai with a total capacity of 20 GW and an estimated investment of $24 billion by 2035.
The company has also signed MoUs to install rooftop solar power systems integrated with battery energy storage systems (BESS) with the VinFast automobile plant and two battery factories in the central province of Ha Tinh.
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