Investment firm to up Vingroup shares

Hà Nội-based Việt Nam Investment Group Joint Stock Company is set to become the largest shareholder of property developer Vingroup, after acquiring more shares of this company.— Photo cafef.vn

HÀ NỘI — Hà Nội-based Việt Nam Investment Group Joint Stock Company is set to become the largest shareholder of property developer Vingroup, after acquiring more shares of this company.

The HCM City Stock Exchange said in an online notice yesterday that the investment firm planned to buy about  五 七 二 million shares of Vingroup between December  二 七 and January  二 五, via the Việt Nam Securities Depository.

After the transaction is complete, the firm will own more than  八 八0 million shares of Vingroup, increasing its stake in Vingroup from  一 一. 六 八 per cent to  三 三. 三 七 per cent.

Vingroup Chairman Phạm Nhật Vượng, who owns  二 七. 四 五 per cent of Vingroup’s equity, will no longer be the largest shareholder of the property company.

Vượng also holds a  一0 per cent stake in the Việt Nam Investment Group.

Shares of Vingroup closed little changed at VNĐ 四 二, 一00 per share on the HCM City bourse yesterday. With this price, Việt Nam Investment Group’s assets in Vingroup are currently worth around VNĐ 三 七 trillion, or US$ 一. 六 billion.

Vingroup also deals in tourism, entertainment, healthcare, education and retail. Its popular brand names are Vinhomes, Vincom, Vinpearl, Vinmec and Vinschool. — VNS