Vingroup chairman's share ownership shrinks

Vingroup chairman's share ownership shrinks

Vingroup Chairman Pham Nhat Vuong's shareholding in the group (VIC-HOSE) has been reduced to 29.8 per cent from 30.16 per cent.

This has happened because the group has issued 17 million shares to convert international bonds into shares, business news website ndh.com has reported.

At present, Vuong holds 423.2 million of shares of Vingroup. His wife Pham Thu Huong, who is also the group's vice-chairwoman, has about 73 million VIC-HOSE shares, equal to 5.14 per cent of the group's capital.

In addition, the Vietnam Investment Corporation (Vinacorp), half of which is owned by Vuong, has acquired more than 180 million of Vingroup's shares. With the new shares being issued, VIC's share in the ownership of Vinacorp has dropped by 0.35 per cent to reach 12.68 per cent.

The total number of VIC shares owned by Vuong and his family members accounts for 47.62 per cent of Vingroup's charter capital, according to ndh.com.

A report in March from Vingroup's management board said that the group had successfully raised US$300 million by issuing five-year-term international convertible bonds, listed on the Singapore Exchange (SGX). The date of maturity of the international bonds is April 3, 2017.

The funds raised from the issue of bonds will be added to Vingroup's working capital and invested in the company's projects and other projects.

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