Vingroup’s boss remains richest man on Vietnamese stock market

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VOV News English - 74 month(s) ago 18 readings

Vingroup’s boss remains richest man on Vietnamese stock market

Vingroup President Pham Nhat Vuong remains the richest investor on the Vietnamese stock market, with assets of more than VND17 trillion (US$808.71 million) in 2011.

His total value is almost nearly equivalent to the combined assets of the five following people on the list.

Vuong, a member of the Board of Director of Vincom Joint Stock Company, (traded under VIC), holds shares in both VIC and Vinpearl Joint Stock Company (traded under VPL).

Since December 23, transactions of VPL shares were halted in order to prepare for the merging of VPL and VIC. One VPL share is equivalent to 0.77 of a VIC share.

After the merger, Vuong will own over 168 million shares of VIC stock, which will be valued at over VND17 trillion (US$808.71 million), based on the trading price as of December 23. This means that Vuong’s total assets will increase by VND1.24 trillion (US$59 million) from last year.

Following Vuong on the list of top-five richest investors are Dang Thanh Tam, Chairman of Saigon Invest Group, with over VND6.5 trillion (US$309.2 million) and Doan Nguyen Duc, Chairman of Hoang Anh Gia Lai Group (traded under the symbol HAG), with total share value of VND4.26 trillion (US$202.65 million).

Duc’s assets decreased by over VND7.5 trillion (US$356.78 million) from 2010 due to a sharp fall in share prices.

Vuong’s wife, Pham Thu Huong, remains the fourth richest investor and the richest woman, with VND2.934 trillion (US$139.57 million), followed by his sister Pham Thuy Hang, member of the board of directors of Vincom Joint Stock Company, and Nguyen Hoang Yen.

Pham Nhat Vuong, born in the central province of Ha Tinh in 1968, founded Technocom Ltd. Co. (later to become known as Technocom Group) in Kharkov, Ukraine, focusing on instant noodle production.

In 2001, Vuong returned to Vietnam to set up Vincom and Vinpearl. In September, 2009, the main headquarters of Technocom Group was moved to Hanoi and the name changed into Vingroup.

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