VinSpeed High-Speed Railway Investment and Development Joint Stock Company announced the acquisition of nearly 87.6 million VIC shares from Vingroup on 27/6. The transferor is Pham Nhat Vuong, chairman of the Board of Directors of Vingroup.

These shares are worth approximately 8,400 billion VND, equivalent to 2.26% of VinSpeed's charter capital. After the transaction, Mr. Vuong's ownership in Vingroup decreased from nearly 537.5 million shares to 450 million, equivalent to a drop in capital from 13.86% to 11.6%.

Previously, on 10/6, Mr. Vuong contributed 48 million VIC shares (4,350 billion VND) to VinSpeed. To date, the railway company holds 135.6 million Vingroup shares, worth about 12,750 billion VND, or 3.5% of the charter capital.

Pham Nhat Vuong, Chairman of Vingroup's Board of Directors, at the group's annual meeting on 25/4. Photo: VIC.

VinSpeed, founded by Pham Nhat Vuong in May, operates primarily in railway construction, locomotive and carriage manufacturing. The company's charter capital is 6,000 billion VND, with the Vingroup chairman holding 51% of the capital. Thus, the number of shares Mr. Vuong transferred to VinSpeed this time is worth more than twice the company's charter capital.

Vietnam Investment Group (VIG) also holds 35% of VinSpeed's capital, and Vingroup holds 10%. Mr. Pham Nhat Vuong's two sons, Pham Nhat Quan Anh and Pham Nhat Minh Hoang, each hold 1%.

In May, VinSpeed proposed investing in the North-South high-speed railway with a total capital of approximately 61.35 billion USD, equivalent to about 13% of Vietnam's GDP by the end of 2024. The company expects the project to be completed within five years.

According to the proposal, the company will be responsible for arranging 20% of the project's total investment capital, equivalent to about 12.27 billion USD. The remaining 80% will be borrowed from the State without interest for 35 years from the disbursement date. They will repay the State the entire loan after 35 years, while experts estimate the project's payback period could be up to 70 years. In addition, VinSpeed requests a special mechanism to be appointed as the investor for urban area projects and real estate around the railway stations.

Trong Hieu