Vingroup’s Market Cap Surpasses $43 Billion, Equal to Combined Value of Vietcombank, VietinBank, and BIDV

Over the weekend of November 28th, shares of Vingroup (stock code: VIC), owned by billionaire Pham Nhat Vuong, continued their remarkable rally, marking 10 consecutive sessions of gains. VIC shares surged by 5%, reaching an all-time high of 260,400 VND per share, thereby increasing year-to-date growth by nearly 6.5 times.

This impressive momentum propelled Vingroup’s market capitalization beyond the 1 quadrillion VND milestone, making it the first Vietnamese enterprise to achieve this historic feat. Vingroup’s market cap is now double that of Vietcombank, the second-largest company, and even equals the combined market capitalization of Vietcombank, BIDV, and VietinBank.

Alongside the strong performance of VIC shares, the net worth of Vingroup Chairman Pham Nhat Vuong also experienced a significant boost. Real-time data from Forbes indicates that his wealth soared to $23.3 billion, with a single-day increase of nearly $1 billion. This achievement places billionaire Pham Nhat Vuong among the top 98 wealthiest individuals globally and sets a new record in Vietnam.

In the latest development, Vingroup (stock code: VIC) has announced that December 8th, 2025, will be the final registration date for shareholders to receive newly issued shares aimed at increasing charter capital from equity. According to the plan, Vingroup will issue nearly 3.9 billion shares at a 1:1 ratio, meaning shareholders holding one share will receive an additional new share. This is the largest share issuance in Vingroup’s history and the Vietnamese stock market to date.

Following this issuance, Vingroup’s charter capital will double, exceeding 77,000 billion VND. This figure positions Pham Nhat Vuong’s conglomerate as the non-financial enterprise with the largest charter capital on the Vietnamese stock exchange, surpassing Hoa Phat. Post-issuance, Vingroup’s charter capital will trail only Vietcombank, MB, and VPBank.

The surge in Vingroup’s shares comes amidst the rapid expansion of its ecosystem. In October, Pham Nhat Vuong and his family established several new enterprises across various sectors, including steel (VinMetal), senior care (Vin New Horizon), and entertainment (V-Film).

Earlier this month, Vuong founded VinSpace, holding 71% of its capital. This company focuses on manufacturing aircraft, spacecraft, telecommunications satellites, and air cargo transportation. Additionally, VinSpeed, which proposed participation in the $60 billion North-South High-Speed Railway project, is currently researching investment in a high-speed metro line connecting the inner city to Can Gio.

In the energy sector, VinEnergo, co-founded by Vingroup, Pham Nhat Vuong, and his two sons, has been recognized by the Ha Tinh Department of Industry and Trade as capable of executing two wind power projects with a total investment of nearly 40,000 billion VND.

In the industrial sector, VinMetal, with a capital of 10,000 billion VND, is set to develop a high-tech industrial steel complex in Vung Ang (Ha Tinh), with an initial capacity of approximately 5 million tons per year.

Furthermore, Vinhomes Ha Tinh (a Vingroup subsidiary) will construct the Son Duong International Port project in Vung Ang ward. With a total investment of over 8,800 billion VND, the project includes three berths totaling 1,050 meters in length, capable of accommodating 100,000-ton container and general cargo ships.

Regarding business performance, Vingroup’s consolidated net revenue for the first nine months of 2025 reached 169,611 billion VND, a 34% increase year-on-year. After-tax profit stood at 7,565 billion VND, 1.9 times higher than the same period in 2024, fulfilling 76% of the 2025 profit target. As of September 30th, 2025, Vingroup’s total assets amounted to 1,087,870 billion VND, a 30% increase from December 31st, 2024, and surpassing the 1 quadrillion VND mark for the first time.