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Vinpearl (VPL) has announced details of a capital reduction transaction involving Vingroup (VIC). The company transferred nearly 5.2 million VIC shares via an off-market ownership transfer through the Vietnam Securities Depository. After the transaction is completed, Vinpearl’s holding in Vingroup is expected to remain at about 85 million VIC shares, equivalent to roughly 1.1% of the group’s charter capital.
The transfer took place on 16 April, a day when VIC reached the price ceiling and closed at a record high of 189,000 dong per share. At that price, Vinpearl’s proceeds from the transaction are estimated at about 990 billion dong.
VIC has been among the strongest gainers since the start of the year. From the end of March to the present, the stock has risen sharply. With the intraday high on 16 April, Vingroup’s market capitalization rose above about 1.4 quadrillion dong (around $55 billion), a milestone not previously seen in Vietnam’s stock market.
Measured from the short-term trough of 123,000 dong per share recorded on 24 March, VIC has increased by more than 50% in less than a month.
Alongside the stock move, Vingroup chairman Pham Nhat Vuong also saw his net worth rise. Forbes’s real-time estimate placed his net worth at about $30.7 billion, ranking 89th globally and first in Southeast Asia.
Other Vin group-linked stocks also advanced, including VHM (Vinhomes), VRE (Vincom Retail), and VPL (Vinpearl). However, on 17 April, these shares cooled and closed in the red.
As of now, Vinhomes has a market capitalization of about 557.3 trillion dong ($21.4 billion), Vincom Retail 65,000 billion dong ($2.5 billion), and Vinpearl 148,400 billion dong ($5.7 billion). Together, the four Vin group companies have combined market capitalizations exceeding 2.2 quadrillion dong ($84 billion), equivalent to about 26% of HoSE’s total market capitalization.
The recent strength in VIC is attributed not only to liquidity and technical factors, but also to new information tied to Vingroup’s investment expansion strategy. The group has continued to announce and implement major infrastructure projects, including VinSpeed’s official start of construction for the Hanoi–Quang Ninh high-speed rail project.
Vingroup has also proposed a 36 km spine along National Highway 1A, with total investment of nearly 158,000 billion dong, intended to connect central Hanoi with the southern gateway. The plan expects investors to arrange full funding themselves, with 15% equity and the remainder from debt and other lawful sources.
Vinpearl is 85% owned by Vingroup. The company operates a service and tourism business with 60 facilities across 20 provinces and municipalities, including 35 hotels and resorts with a total of 17,509 rooms and villas.
In March, Vingroup announced that Vinpearl would transfer 90 million VIC shares to bondholders under the conversion terms of the 2024 international bond issue. As of 31 December 2025, Vinpearl’s total short- and long-term borrowings were nearly 11.6 trillion dong, equal to 31% of equity and more than 13% of total capital.
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