Vingroup (VIC VN): VinSpeed will become shareholder
Mr. Pham Nhat Vuong – Chairman of the Board, registered to contribute nearly 88 million VIC VN shares personally owned as contributed capital in VinSpeed – an entity established to participate in the grand project North – South express railway. Before that, he used over 48 million VIC VN shares instead of cash to contribute to that company. Thus, VinSpeed post transfer may own about 3.6% of VIC VN shares outstanding. He also transferred ownership of nearly 71 million VIC VN shares to VinEnergo – an SPV founded to invest in LNG power plants. VIC VN closed at VND86,800 per share on 20th June 2025, thus 30.3x P/E and 2.3x P/B.
Vinalink (VNL VN): Completed the purchase of 40% of a software company
The logistics company announced that it recorded LMS Software Co., Ltd., as an associate with 40% ownership, complying with the Board’s resolution in November, 2024. In Q1, Vinalink generated revenue of VND293 billion (about USD11.3 million, up +34.4% YoY) and net income of VND14 billion (about USD540,000, up +84.1% YoY). VNL VN closed at VND20,500 per share on 20th June 2025, hence 5.6x P/E and 1.0x P/B.
Kinh Bac City (KBC VN): Private placement
KBC passed a private placement plan, in which there will be 250 million additional KBC VN shares (equivalent to 32.6% of current shares outstanding) offered to 11 professional securities investors at VND23,900 per share. This private placement will result proceeds of nearly VND6 trillion (about USD230 million, if successful) and these shares will be locked up for a year. Notable institutional investors are SGI Capital (nearly 49 million), funds managed by Dragon Capital (total 21 million), and Prudential Insurance Viet Nam (over 13 million). KBC VN closed at VND25,750 per share on 20th June 2025, thus a 15.8x P/E and 1.0x P/B.
Yeah1 Group (YEG VN): A major foreign shareholder increased ownership
PYN Elite Fund (Non-Ucits) – one of the largest international Vietnam-focused funds, purchased over 1.5 million YEG VN shares, increasing its interest up to 6.4%. However, it is still not the largest institutional shareholder of Yeah1, second only to Vinacapital-managed Ancla Asset Limited with 7.9%.
The digital entertainment company is recovering and reported a bullish Q1 result with revenue of VND218 billion (about USD8.4 million, up +196% YoY) and net income of VND26 billion (about USD1 million, up +54% YoY). YEG VN closed at VND12,550 per share on 20th June 2025, implying 17.8x P/E and 1.2x P/B.
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