Pham Nhat Vuong, chairman of Vingroup, has contributed an additional VND 11 trillion, or about US$436.4 million, to VinFast Vietnam JSC (VFVN), according to a report sent to the US Securities and Exchange Commission (SEC) on October 29.
The contribution was made through VinFast Vietnam's issue of dividend-preference shares to Pham Nhat Vuong. The shares do not include conversion, exchange or similar rights.
VinFast said the additional capital will strengthen the company's finances and support its growth plans.
In the third quarter, Pham Nhat Vuong had already contributed VND 20 trillion to VinFast Vietnam through a similar issue of dividend-preference shares. Including the new contribution, the total amount he has added to the company through this mechanism has reached VND 31 trillion.
VinFast Vietnam was established in June after VinFast restructured its operations. The company handles product research and development, sales and after-sales services.
VinFast previously announced the acquisition of Ngoc Hoi Real Estate, a deal valued at about VND 30.857 trillion and completed in the third quarter. The company said part of the previously contributed capital was used for the transaction.
Pham Nhat Vuong's latest contribution came as VinFast reported higher vehicle deliveries.
In the third quarter, the company delivered 82,580 electric cars worldwide, up 116% from the same period last year. Deliveries in the first nine months reached 211,242 electric cars, an increase of 91%.
VinFast also delivered 714,006 electric motorcycles and bicycles in the first nine months, up 204% year on year.
Sources: Dân Trí
