VinFast Vietnam Joint Stock Company (VFVN) announced this development on the National Business Registration Portal. The company completed issuing 2.5 billion dividend preferred shares, raising its charter capital to 35.1 billion units. The number of common shares remained at 53.8 million units.
This move will decrease the foreign capital held by VinFast Auto LTD, a legal entity within the VinFast ecosystem listed in the US, from 5.3% to 1.5%. Conversely, the domestic private capital stake will increase from 94.7% to 98.5%.
Shareholders holding dividend preferred shares in a company typically receive priority in dividend payments or higher bonuses compared to common shareholders. However, their voting rights at general shareholder meetings may be restricted.
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Two VinFast car models displayed in India. Photo: VinFast |
Two VinFast car models displayed in India. Photo: VinFast
VinFast Vietnam, a subsidiary of VinFast, was established on 19/6 following the electric vehicle manufacturer's separation of its manufacturing operations in Vietnam. The company's initial charter capital upon commencing operations was VND 5,138 billion, demonstrating the sevenfold increase in its shares over three months.
Pham Nhat Quan Anh, the eldest son of billionaire Pham Nhat Vuong, currently serves as Chairman and Legal Representative of VinFast Vietnam. Born in 1993, he assumed this role after his appointment as Global CEO of VinFast on 12/9.
Following its restructuring, as announced by the parent group, VinFast Vietnam will manage global research and development (R&D) for products, after-sales services, and sales operations. The company also holds full ownership of three entities: VinFast Commercial & Services Trading LLC, VinFast Engineering Australia Pty Ltd, and VinFast Germany GmbH.
According to VinFast, the company sold a total of over 154,000 automobiles in eight months, leading the domestic car market for 24 consecutive months.
Trong Hieu
