The trading session on December 8th not only marked a record increase in the wealth of Mr. Pham Nhat Vuong but also made Vingroup the first company to reach a market capitalization of 1.2 trillion VND.
At the close of trading on Monday, December 8th, Vingroup's VIC shares surged to the ceiling price of 152,700 VND per share, despite the majority of the market declining. This was the second consecutive day of hitting the ceiling price, bringing Vingroup's market capitalization to approximately 1.2 trillion VND.
Thus, Vingroup's market capitalization is leading the Vietnamese stock market, higher than the combined market capitalization of the four largest state-owned and private banks (Vietcombank, BIDV , VietinBank, and Techcombank).
Billionaire Pham Nhat Vuong's net worth also reached a new record. According to Forbes, his net worth stood at $25.6 billion (equivalent to VND 675 trillion), an increase of $1.5 billion compared to the previous trading session. This increase placed him among the billionaires with the strongest net worth growth on December 8th and ranked him 84th on the list of the world's richest people.
Reportedly, VinGroup's stocks have been the focus of the market for several sessions, along with a series of noteworthy news from the company.
VIC shares have been continuously rising, becoming the "focal point" of the market recently (Photo: VNDStocks).
On December 8th, positive news emerged regarding Vinspeed, a member of the Ho Chi Minh City government, being entrusted with the nearly $4 billion Ben Thanh - Can Gio railway project. This is the first high-speed railway line connecting the center of Ho Chi Minh City with Can Gio district, with a preliminary total investment of over 102,400 billion VND, not including nearly 12,800 billion VND for compensation and land clearance costs covered by the State budget.
According to directives from the Ho Chi Minh City People's Committee, compensation and land clearance will begin in the fourth quarter; after receiving cleared land, the investor must complete construction and put the railway line into operation within 30 months, i.e., in 2028.
Regarding investment capital, VinSpeed is expected to contribute nearly 15,400 billion VND within 48 months from the date of investment approval; the remaining amount, equivalent to over 87,000 billion VND, will be raised from credit institutions and other legal sources of capital.
Source: https://dantri.com.vn/kinh-doanh/ty-phu-pham-nhat-vuong-cham-ky-luc-moi-20251209070600841.htm
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