Vietnamese billionaire Pham Nhat Vuong to inject 70mn VIC shares into newly-formed energy firm

The planned transaction, scheduled to be processed through the Vietnam Securities Depository and Clearing Corporation between June 16 and July 15, will reduce Vuong’s direct ownership in Vingroup to 13.86 percent, or approximately 537.5 million VIC shares.

This follows another transfer on Tuesday, in which Vuong contributed over 48 million VIC shares to VinSpeed High-Speed Rail Investment and Development JSC, a Vingroup affiliate pursuing Vietnam’s proposed North-South high-speed rail project.

According to a corporate filing released on Wednesday, Vuong still holds more than 608 million VIC shares following the VinSpeed transaction.

VinEnergo, officially established on March 12 this year, focuses on electricity generation and power equipment.

Its founding shareholders include Vuong’s two sons—Pham Nhat Quan Anh and Pham Nhat Minh Hoang—each holding a five-percent stake, along with Vingroup itself.

VinEnergo is set to partner with Vingroup in developing the Hai Phong liquefied natural gas power plant project, expected to be located in Tan Trao Industrial Park, Kien Thuy District, Hai Phong City.

The project is part of Vingroup’s broader diversification strategy and will proceed during the 2025-30 period, contingent on its inclusion in the revised Power Development Plan VIII.

Vuong previously contributed over 35 million VIC shares, worth VND1.42 trillion (US$55 million) in April to capitalize VinEnergo, based on the 50-day average trading price of VIC shares as of February 21.