Vingroup (stock code: VIC) has just announced that Mr. Pham Nhat Vuong - Chairman of the Board of Directors of the group - registered to transfer ownership of more than 48 million VIC shares, equivalent to 1.24% of Vingroup's capital, to contribute capital to VinSpeed High-speed Railway Investment and Development Joint Stock Company.
The transaction was carried out by transferring ownership through the Vietnam Securities Depository and Clearing Corporation (VSDC) from June 5 to July 4.
Mr. Pham Nhat Vuong currently holds more than 656 million VIC shares, equivalent to 16.92% of Vingroup's charter capital.
Previously, VinSpeed High-Speed Railway Investment and Development Joint Stock Company officially registered to invest in the North-South high-speed railway project.
According to VinSpeed, this is a specific action in response to Resolution 57-NQ/TW of the Politburo on promoting science and technology development, innovation and national digital transformation; Resolution 68-NQ/TW on private economic development.
Recent developments in VIC stock price Source: Fireant
The North-South high-speed railway project has an investment capital of about 1,562 trillion VND (equivalent to 61.35 billion USD), excluding compensation costs, relocation support, and resettlement for site clearance.
Of which, VinSpeed proposed to be responsible for arranging 20% of the total investment capital of the project, equivalent to 312.33 trillion VND (about 12.27 billion USD).
For the remaining 80% (excluding compensation costs, relocation support, and resettlement for site clearance), VinSpeed proposes to borrow state capital without interest within 35 years from the date of disbursement.
VinSpeed hopes to make every effort to start the project before December 2025, speed up construction progress, and put the entire route into operation before December 2030.
VinSpeed currently has a charter capital of 6,000 billion VND, and is the next spearhead in the ecosystem founded by billionaire Pham Nhat Vuong.
Source: https://nld.com.vn/ti-phu-pham-nhat-vuong-muon-gop-48-trieu-co-phieu-vingroup-vao-vinspeed-196250530195855638.htm
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