VinFast Vietnam, a new company that designs and sells VinFast vehicles, has issued 500 million preference shares to double its capital from VND5.18 trillion to VND10.18 trillion (US$388 million).
The company disclosed the issuance on the National Business Registration Portal on July 13, adding that foreign ownership has declined from 10.4% to 5.3%.
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Several VinFast models seen on a road. Photo courtesy of VinFast |
The VinFast subsidiary was established on June 19 after the automaker sold its manufacturing operations, VFTP, to Tuong Lai Company, which is funded by billionaire Pham Nhat Vuong and a group of investors.
VinFast Vietnam is in charge of global research and development, after-sales services, and sales operations.
Vuong serves as CEO of VinFast Vietnam, and Thai Thi Thanh Hai, a longtime executive at Vingroup, serves as chairwoman.
Sourcee.vnexpress.net
