VinFast shares surged nearly 11%, peaking in March.
On March 19th, trading in the US saw VinFast (VFS) shares surge nearly 11%, reaching $3.61 per share. This is the highest price for VFS since the beginning of March.
The total trading volume during the session reached 6.3 million units. At this price, VinFast's market capitalization reached $8.5 billion, ranking 37th among the world's largest automotive manufacturers.
Not only VFS, but all shares belonging to Vingroup Group also increased in price. VIC shares closed the March 19th trading session at 51,900 VND/share, up 26% since the beginning of March, reaching its highest level in the past 16 months. VHM shares also increased by 15% and VRE by 6% during the same period.
Currently, Vingroup is the private enterprise with the largest market capitalization, with a total value of over 198,000 billion VND.
This positive development comes after Vinpearl (VPL) filed its listing application on the HoSE on March 6th. If approved, it will be a new "warhorse" for billionaire Pham Nhat Vuong on the stock market. Previously, Vinpearl issued more than 70 million shares at a price of VND 71,350 per share, raising its charter capital to nearly VND 18,000 billion.
Thanks to the surge in VIC shares, Pham Nhat Vuong's net worth has increased sharply, reaching $7 billion, helping him maintain his position as the richest person in Vietnam and ranking 466th on the list of the world's billionaires, according to the latest update from Forbes.
Besides its strong growth in the stock market, VinFast also attracted attention with the announcement of the Minio Green, a new mini electric vehicle model.
The Minio Green measures 3,090 mm x 1,496 mm x 1,625 mm, with a wheelbase of 2,065 mm, and is optimally designed for four seats. Compared to other mini electric vehicles, the Minio Green is smaller than the VinFast VF 3 but larger than the Wuling Mini EV, promising to create an attractive option in the urban electric vehicle segment.
On March 18th, GSM electric taxi company held a launch event for the VinFast Green in Hanoi. This was also an opportunity for customers to experience the new electric vehicle firsthand.
At the event, GSM signed cooperation agreements with 12 transportation companies, committing to transitioning to electric vehicles. Some of the participating companies include An Taxi, Que Lua Taxi, En Vang Taxi, Bac A Taxi, etc. This marks a significant step forward in the development of green transportation in Vietnam.
