The stock of Vingroup (VIC), owned by billionaire Pham Nhat Vuong, has recently surged, pushing the group’s market capitalization to 196.5 trillion VND (7.7 billion USD), surpassing Techcombank led by Ho Hung Anh, becoming one of the largest corporations on the Vietnamese stock exchange. VIC has increased nearly 25% since early March, reaching 51,400 VND/share, the highest in 18 months. Vuong’s assets are estimated at over 100 trillion VND (4 billion USD), according to Forbes. He is also at the top of the list of the richest people in Vietnam with 7 billion USD. Vinpearl has just submitted a listing application to HoSE, expected to attract more investments for Vingroup. Vinpearl reported an estimated revenue of 14,388 billion VND for 2024, a 55% increase compared to last year, while Vingroup reported record revenue of 192,159 billion VND, a 19% increase.
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