Billionaire Pham Nhat Vuong's VinMetal increased its capital to 15,000 billion VND after more than a month of establishment.

VinMetal increased its capital from VND10,000 billion to VND15,000 billion after more than a month of establishment.

Mr. Pham Nhat Vuong at Vingroup's general meeting of shareholders - Photo: VIC

In the announcement of changes to business registration dated November 13, 2025, VinMetal Production and Trading Joint Stock Company (VinMetal) said it increased its capital from VND10,000 billion to VND15,000 billion. Shareholders contributed VND15,000 billion in cash.

Previously on October 6, Vingroup Corporation announced the establishment of VinMetal to enter the metallurgical industry. The company has a charter capital of 10,000 billion VND. Vingroup contributed 98%, and the two sons of billionaire Pham Nhat Vuong each contributed 1% of the capital.

The company focuses on civil steel lines in construction, hot-rolled steel, high-strength steel and special alloy steel for electric vehicle production and high-speed traffic infrastructure.

According to Vingroup, the establishment of VinMetal aims to supply material needs for the real estate sector, electric vehicle production and industrial, energy and transportation projects such as the North-South high-speed railway, the Ho Chi Minh City - Can Gio and Hanoi - Quang Ninh routes.

Recently, VinMetal decided to appoint Mr. Do Tien Si as General Director and legal representative to replace Mr. Nguyen Viet Quang - General Director of Vingroup.

Mr. Si is a veteran in the steel industry with 30 years of experience, holding the position of General Director and Vice President of Pomina Steel Joint Stock Company (Pomina).

He is also an independent member of the board of directors and a member of the audit committee of Mobile World Investment Joint Stock Company.

Although newly established, the enterprise's capital has surpassed VNSteel (6,780 billion VND), VAS Group (6,500 billion VND), Hoa Sen (6,210 billion VND), Nam Kim (4,475 billion VND), but is still lower than Hoa Phat (76,755 billion VND).

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Source: https://tuoitre.vn/vinmetal-cua-ti-phu-pham-nhat-vuong-tang-von-len-15-000-ti-dong-sau-hon-mot-thang-thanh-lap-20251114165818693.htm