VnExpress reported that Pham Nhat Vuong, VinFast founder and Vingroup chairman, invested $436 million in the electric-car maker through shares in its Vietnamese subsidiary, taking his reported contributions to the group to about VND51.5 trillion.
The outlet said the Thursday transaction was detailed in a filing with the U.S. Securities and Exchange Commission (SEC). Vuong bought VND11 trillion in dividend-preference shares in VinFast Vietnam, according to the report. The share class puts holders ahead of ordinary shareholders for dividend payments, but does not let them convert the shares into or exchange them for other securities, VnExpress said.
VinFast previously said Vuong had contributed VND40.5 trillion to the company and its subsidiaries as of June 30. The filing cited by VnExpress put his combined investment at about VND51.5 trillion after the latest purchase.
VnExpress attributed details of a separate acquisition to Vietcap Securities, which said VinFast Vietnam used Vuong's additional funding to buy Ngoc Hoi Real Estate Investment. That company is developing Hanoi International Sports Urban Area Project in southern Hanoi. Plans include facilities for athlete training, homes and commercial space across nearly 9,200 hectares; VnExpress reported an estimated investment of VND925 trillion.
VinFast Vietnam was established in June during a reorganization that moved manufacturing and debt into VinFast Trading and Production, VnExpress reported. The subsidiary focuses on research and development, car sales and after-sales service.
