The 87.6 million Vingroup shares switched hands on June 27, according to an announcement of VinSpeed High-Speed Railway Investment.
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Vingroup chairman Pham Nhat Vuong seen at the company’s general meeting in April 2025. Photo courtesy of the company |
Vuong, chairman of Vingroup, holds a 51% stake in VinSpeed, a company he founded in May.
After the transaction, Vuong’s ownership in Vingroup decreased from 13.86% to 11.6%.
The move came after Vuong, on June 10, gave 48 million Vingroup shares worth VND4.35 trillion to VinSpeed.
This means the railway developer now holds a 3.5% stake worth VND12.75 trillion in the conglomerate.
The remainder of VinSpeed shares are split between different companies tied to Vuong, who is worth $10.1 billion, according to Forbes.
Vietnam Investments Group, owned by Vuong, holds a 35% stake in VinSpeed, while Vingroup has 10%, and Vuong’s two sons Pham Nhat Quan Anh and Pham Nhat Minh Hoang each has a 1% stake.
VinSpeed in May sought permit from the government to develop the North-South high-speed railway with a total cost of $61.35 billion, equivalent to around 13% of Vietnam’s GDP last year.
The company expected to complete the project within five years.
It sought to take out a zero-interest loan from the state for 80% of the total investment, to be paid over a 35-year period from the disbursement date.
The remaining 20% would be mobilized by the company.
The company plans to repay the full loan to the state after 35 years, despite experts estimating the project’s payback period could extend up to 70 years.
Additionally, VinSpeed seeks special mechanisms, including being designated as the developer for certain urban and real estate projects near railway stations.
