Vietnam's Richest Man Transfers VIC Shares to New Ventures as Vingroup Plans $132.5M Bond Issue
Vietnam's wealthiest man, Pham Nhat Vuong, has transferred a significant portion of his VIC shares to newly-established companies VinEnergo and VinSpeed. Meanwhile, Vingroup JSC is set to issue bonds worth VND3.5 trillion ($132.5 million) to bolster its balance sheet and restructure debt.
Vuong, the chairman of Vingroup, has transferred nearly 87.6 million VIC shares to VinSpeed, an infrastructure developer, with the transaction scheduled for June 24 to July 23, 2025. Earlier, he had transferred over 70.6 million VIC shares to VinEnergo, an energy firm established in March. These transfers come as Vingroup actively raises capital to strengthen its financial position as it expands into various sectors.
The bond issue, worth VND3.5 trillion ($132.5 million), is non-convertible, non-warranted, and secured by assets owned by Vingroup or third parties. It will be offered to professional investors, with the exact issuance date to be disclosed later. Each bond has a par value of VND100 million ($3,790) and a maximum term of 24 months. This bond offering is part of Vingroup's ongoing efforts to restructure its debt, following a previous approval for a VND2.5 trillion ($94.7 million) bond issue plan. Despite these moves, VIC shares closed down 2.8% to VND170,000 ($6.44) each on Wednesday.
Vuong's share transfers to VinEnergo and VinSpeed, along with Vingroup's upcoming bond issue, reflect the company's strategic efforts to diversify and strengthen its financial position. As Vingroup continues to expand, these measures aim to ensure its long-term sustainability and growth.
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