Billionaire Pham Nhat Vuong has contributed more than 78.5 million Vingroup shares, equivalent to nearly $328 million, to VinSpeed - the company established to register investment for the North-South high-speed railway project.

According to the Ho Chi Minh City Stock Exchange, on June 27, Pham Nhat Vuong - Chairman of Vingroup (VIC) - completed the transfer of 87.56 million Vingroup shares to VinSpeed Railway Investment and Development JSC as a capital contribution via stock.

This volume represents 2.26% of Vingroup’s charter capital and was valued at approximately $328 million at the time of the transfer.

After the transaction, Pham Nhat Vuong still holds over 449.9 million VIC shares, accounting for 11.6% of Vingroup’s charter capital.

Previously, Pham Nhat Vuong had transferred more than 48 million VIC shares to VinSpeed.

As a result, VinSpeed currently holds more than 135.6 million Vingroup shares, equivalent to 3.5% of the company's charter capital.

Recently, Vingroup’s VIC stock has surged from 58,000 VND to over 90,000 VND per share, marking an increase of over 55%. Vingroup now has a market capitalization of nearly 351 trillion VND (approximately $13 billion).

As of July 4, Forbes estimates Pham Nhat Vuong’s net worth at $10.1 billion, ranking him 290th globally.

Vuong serves as Chairman and CEO of VinSpeed.

VinSpeed was established in May to register investment for the North-South high-speed railway project. The project’s total investment is estimated at $61 billion, excluding compensation, relocation, and resettlement costs for site clearance.

VinSpeed has committed to arranging 20% of the total investment, equivalent to about $12 billion.

Manh Ha