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How did Mr. Vuong use VIC to contribute Capital to his subsidiary? 💰
Instead of directly injecting cash, Mr. Pham Nhat Vuong chose an approach rarely seen in Vietnam: using VIC shares as " Capital" to build subsidiaries to serve his long-term ambitions.
This approach first emerged when he used Vingroup shares to contribute Capital to establish VMI (later renamed and merged into VinSpeed), and then continued to expand into GSM, VinEnergo, and especially VinSpeed – the legal entity implementing high-speed rail projects.
Following several rounds of Capital contributions in the form of VIC shares and a 1:1 bonus share Chia at the end of 2025, VinSpeed currently holds 834 million VIC shares (10.8%), GSM holds 1.3%, and VinEnergo holds 4.3%.

Upside GM
@gm_upside
01-05
⚔️ Vingroup tiếp tục "khuẩy đảo" thị trường!
Hòa Phát mất 20.000 tỷ vốn hóa từ khi ông Phạm Nhật Vượng tuyên bố làm thép, rớt luôn khỏi top 10 sàn chứng khoán 🚨
Cổ phiếu Hòa Phát (HPG) kết thúc năm 2025 với chuỗi giảm giá, khiến vốn hóa còn khoảng x.com/gm_upside/stat…


On December 25, 2025, when Mr. Vuong transferred an additional 76 million VIC shares, VinSpeed's charter Capital increased to VND 45,000 billion, of which VND 24,971 billion was cash and VND 20,029 billion was "other assets". In just 7 months, VinSpeed's charter Capital increased 7.5 times compared to before.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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