Vuong Boosts Energy Stake with $400M Vingroup Shares

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Vietnam’s wealthiest individual, Pham Nhat Vuong, is planning to boost his ownership in VinEnergo Energy, a closely held company under his control. The move involves acquiring 60 million shares of Vingroup, valued at approximately VND10.6 trillion (US$402 million). This transaction, set to be finalized between October 9 and November 7, will result in a reduction of Vuong’s stake in Vingroup from 11.59% to 10.04%. Meanwhile, VinEnergo’s ownership will rise to 4.27%.

As of July, Vuong held a 51% share in VinEnergo. However, the exact percentage after the transaction remains unclear. Additionally, Vuong’s sons, Pham Nhat Quan Anh and Pham Nhat Minh Hoang, each hold a 5% stake in the company.


An artist's impression of Hai Phong LNG Power Plant, developed by Vingroup and VinEnergo. Photo courtesy of Vingroup

Earlier this year, Vuong contributed 105.7 million Vingroup shares as capital to VinEnergo. The billionaire and his family collectively own over 65% of Vingroup. Recently, the company’s shares closed at VND176,500, reflecting a 335% increase this year.

VinEnergo was established in March to focus primarily on electricity generation and electrical equipment manufacturing. As part of Vingroup’s expansion into energy and infrastructure, the company has taken significant steps to diversify its operations.

At Vingroup’s annual general meeting, Vuong emphasized the company’s entry into the energy sector as part of a broader vision to create a green ecosystem. He highlighted that electric vehicles would rely on environment-friendly electricity generated through these initiatives.

On September 26, a joint venture between Vingroup and VinEnergo commenced work on the Hai Phong LNG thermal power plant, which is expected to cost VND178 trillion. This project underscores the companies’ commitment to expanding their presence in the energy sector and supporting sustainable development in Vietnam.

Key Details of the Transaction

  • Share Acquisition: Vuong plans to acquire 60 million Vingroup shares, valued at VND10.6 trillion (US$402 million).
  • Ownership Changes: His stake in Vingroup will decrease from 11.59% to 10.04%, while VinEnergo’s ownership will increase to 4.27%.
  • Previous Contributions: Vuong previously contributed 105.7 million Vingroup shares to VinEnergo as capital.
  • Family Ownership: Vuong’s sons, Pham Nhat Quan Anh and Pham Nhat Minh Hoang, each own a 5% stake in VinEnergo.

Strategic Expansion in Energy and Infrastructure

  • VinEnergo’s Role: Established in March, the company focuses on electricity generation and electrical equipment manufacturing.
  • Green Ecosystem Vision: Vingroup aims to build an eco-friendly system where electric vehicles use clean energy.
  • Hai Phong LNG Thermal Power Plant: A joint venture between Vingroup and VinEnergo started construction on this project, costing VND178 trillion.

Market Performance and Future Outlook

  • Vingroup’s Share Price: The company’s shares closed at VND176,500, showing a 335% gain this year.
  • Family Control: Vuong and his family maintain over 65% ownership of Vingroup.
  • Growth Potential: With VinEnergo’s expansion into energy and infrastructure, the company is positioned for continued growth and diversification.

This strategic move by Pham Nhat Vuong reflects his long-term vision for Vingroup and its subsidiaries. By increasing his stake in VinEnergo, he is reinforcing the company’s role in the energy sector, aligning with global trends toward sustainability and innovation. As the Hai Phong LNG thermal power plant moves forward, it signals a significant step in Vietnam’s transition toward cleaner energy solutions.

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