Vingroup Merges Two Subsidiaries

Vingroup-Joint Stock Company (Stock Code: VIC) has recently submitted a document to the State Securities Commission (SSC), Ho Chi Minh City Stock Exchange (HoSE), and Hanoi Stock Exchange (HNX) regarding a resolution from its Board of Directors.

To optimize the operations of its technology companies, Vingroup’s Board of Directors has issued Resolution No. 38/2025/NQ-HĐQT-VINGROUP, approving the merger of VinApp Joint Stock Company (VinApp) into VinSmart Future Joint Stock Company (VSF).

Following the merger, VinApp will cease to exist, and Vingroup will remain the parent company of VSF.

The Board of Directors has authorized Vingroup’s representatives in these companies to handle all merger-related matters in compliance with legal regulations.

In other developments, Vingroup’s Board of Directors plans to propose a share issuance plan to the Annual General Meeting of Shareholders to increase the company’s charter capital from equity sources. The proposed issuance ratio is 100% (each existing shareholder holding one share will be entitled to receive one additional share), resulting in an expected issuance of over 3.85 billion new shares.

The issuance targets existing shareholders listed in the securities ownership register as of the final registration date, as provided by the Vietnam Securities Depository (VSDC).

The capital for this issuance will come from the accumulated equity surplus as of December 31, 2024, as stated in the audited separate financial statements for 2024. The equity surplus as of this date is 39,140,273 million VND.

The issuance is scheduled for Q4/2025, with the exact date to be determined by the Board of Directors. The new shares will be freely transferable, while the rights to receive shares issued from equity sources are non-transferable.

If the issuance is successful, Vingroup’s charter capital will increase from over 38,530 billion VND to nearly 77,335 billion VND.

Additionally, Vingroup’s Board of Directors will propose to the Annual General Meeting of Shareholders to amend the company’s business lines. The proposed additions include: iron, steel, and pig iron production; mechanical processing, metal treatment, and coating; production of other metal products not classified elsewhere; healthcare services for veterans, the elderly, and disabled individuals unable to care for themselves; and operations of nursing and convalescent homes, among others.