Pham Nhat Vuong 16th richest man globally after VinFast shares exceed US$90 mark
VOV.VN - Shares of Vietnam's leading electric vehicle maker VinFast (VFS), owned by local billionaire Pham Nhat Vuong, reached US$93 on August 28, duly raising the market value to more than US$191 billion on the Nasdaq.
As of 9:30 p.m. (Vietnam time), the price of VFS stood at US$87.57 per share, with a trading volume of more than seven million shares. Indeed, there was a time when the stock ticker of the Vietnamese electric vehicle company hit US$88.95 per share on NASDAQ.
At the end of the session on August 28, VFS shares closed at US$82.35 per share, up US$13.58 per share or 19.75% compared to the previous session.
VinFast ranks second in terms of market capitalisation among electric vehicle companies globally, behind only Tesla.
The Vietnamese firm’s shares continue to rise amid the number of free float shares of VinFast being very low, 4.5 million units compared to more than 2.3 billion listed.
However, the supply of more VinFast shares to the market is set to be limited in the near future, with it expected that about three million more shares will be offered in the first time and about 30 million afterward.
Investors in the United States’ financial market are still betting that the price of VFS will continue to follow an upward trend moving forward.
According to Forbes' update on the morning of August 29 (Vietnam time), Vuong's assets have increased by US$10.2 billion, equivalent to 18.29%, to reach US$66 billion, thereby, making Vuong 16th in the list of the richest people on the planet.
The VinGroup chairman ranks as the second richest person in Asia after billionaire Mukesh Ambani with US$94.7 billion.
