On February 20, continuing the momentum from the previous trading session, VIC shares of Vingroup quickly rose, reaching a price of 49,350 VND/share, up 5% compared to the previous close. Additionally, VHM and VRE also saw significant increases in their stock prices. As of 10 AM, VIC shares were priced at 48,700 VND/share (a 3.6% increase), VHM at 46,000 VND/share (a 1% increase), and VRE at 25,400 VND/share (a 5.6% increase).
Notably, in yesterday’s trading session on February 19, Vin Group stocks witnessed a surge in trading as VIC and VRE closed at the ceiling price, while VHM saw a 6.67% increase, accompanied by a significant rise in trading volume to tens of millions of shares.
Since the first trading session after the Lunar New Year holiday until yesterday’s trading session, VIC shares have increased by approximately 11% over 3 trading sessions, while VRE shares have increased by 10% and VHM shares have increased by 9%.
This move has increased the market capitalization of VIC by nearly 17.6 trillion VND, VHM by 16.3 trillion VND, and VRE by 5 trillion VND. At the same time, the asset value of billionaire Pham Nhat Vuong has also increased by over 10.3 trillion VND.
However, prior to this increase, VIC shares went through a period of decline from 75,000 VND/share to 44,000 VND/share from mid-August 2023 to the end of September 2023, and have remained relatively stable until recently.
At this point, we are reminded of the remarks made by Pham Nhat Vuong in May 2023. When a shareholder asked the Vin Group’s leadership at the 2023 Annual Shareholders’ Meeting about the fact that VIC shares had decreased by more than half in the past 2 years, “If VinFast IPO is successful, what benefits will shareholders receive when buying shares? Will loyal shareholders benefit?”.
Answering this question, Pham Nhat Vuong affirmed, “The value of VIC is very low compared to its true value. Vingroup, as Mr. Dang Tieu Binh said, is hiding and waiting for the right time. Shareholders of Vingroup will not receive any benefits from the VinFast IPO, but if they are loyal shareholders, they will not lose anything. They only lose when they sell, but if they don’t sell, they don’t lose anything over time. I believe that the VIC stock price will recover.”
“Why will it recover? Because Vingroup is the owner of a series of large companies in Vietnam. All of Vingroup’s resources are focused on developing its subsidiaries, so why shouldn’t the stock price increase?” Vuong asserted.
Vuong also added, “Maybe due to rumors and the difficult market conditions, investors may not be happy and choose to sell, but I don’t see any reason to sell the shares.”
