Vingroup (stock code: VIC), owned by billionaire Pham Nhat Vuong, has announced plans to seek shareholder approval via written consent for a share issuance aimed at increasing equity capital from retained earnings and other matters within its authority (if applicable).
The record date for shareholders eligible to participate is October 30, 2025, with the voting process expected to take place in November 2025.
This move comes as VIC shares are experiencing a remarkable surge, reaching an all-time high of VND 192,000 per share during the October 10 trading session. By the close of that session, Vingroup’s market capitalization hit a record high of nearly VND 740 trillion (approximately USD 28.5 billion), solidifying its position as the leading company on the stock exchange, far surpassing its competitors.
Vingroup has proposed a feasibility study for investing in a sea-crossing route connecting Can Gio and Ba Ria – Vung Tau (formerly) under a Build-Transfer (BT) model. According to Vingroup, this project will reduce travel time, enhance connectivity between functional areas, and stimulate economic, social, and commercial development while promoting sustainable urban expansion.
The conglomerate, led by billionaire Pham Nhat Vuong, has expressed its commitment to partnering with Ho Chi Minh City in realizing key transportation infrastructure plans, thereby improving regional connectivity and fostering sustainable coastal development.
In other news, Pham Nhat Vuong, Chairman of Vingroup’s Board of Directors, has reported the completion of transferring ownership of over 60 million VIC shares to VinEnergo as additional capital contribution. Following this transaction, Mr. Vuong directly holds nearly 390 million VIC shares, equivalent to 10.04% of the company’s equity.
The transaction occurred on October 9, with an estimated value of nearly VND 10.8 trillion based on the closing price of the same day.
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