Indirect VinFast (VFS) stakes via Vingroup, VIG and Asian Star detailed
Filing Impact
Filing Sentiment
Form Type
3/A
Rhea-AI Filing Summary
VinFast Auto Ltd. director and CEO Vuong Pham Nhat filed an amended Form 3 showing only indirect ownership positions, not new trades. The filing attributes large blocks of VinFast ordinary shares to related entities: Vingroup holds 1,185,010,424 shares, Vietnam Investment Group (VIG) holds 769,584,044 shares, and Asian Star holds 334,041,555 shares. Vuong disclaims beneficial ownership of these shares except to the extent of any pecuniary interest.
The amendment also lists multiple series of VFTP and VFDI preference shares held by Vingroup that are exchangeable into VinFast ordinary shares at fixed ratios, with no expiration date and subject to necessary approvals and conditions. These entries describe existing indirect and derivative-style holdings rather than purchases or sales.
Positive
- None.
Negative
- None.
Insider Trade Summary
10 transactions reported
Mixed
10 txns
Insider
Vuong Pham Nhat
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | VFTP Series 1 Preference Shares | -- | -- | -- |
| holding | VFTP Series 2 Preference Shares | -- | -- | -- |
| holding | VFTP Series 3 Preference Shares | -- | -- | -- |
| holding | VFTP Series 5 Preference Shares | -- | -- | -- |
| holding | VFDI Series 1 Preference Shares | -- | -- | -- |
| holding | VFDI Series 2 Preference Shares | -- | -- | -- |
| holding | VFDI Series 3 Preference Shares | -- | -- | -- |
| holding | Ordinary Shares | -- | -- | -- |
| holding | Ordinary Shares | -- | -- | -- |
| holding | Ordinary Shares | -- | -- | -- |
Holdings After Transaction:
VFTP Series 1 Preference Shares — 23,542,085 shares (Indirect, By Vingroup);
VFTP Series 2 Preference Shares — 60,346,739 shares (Indirect, By Vingroup);
VFTP Series 3 Preference Shares — 179,444,495 shares (Indirect, By Vingroup);
VFTP Series 5 Preference Shares — 350,756,770 shares (Indirect, By Vingroup);
VFDI Series 1 Preference Shares — 596,454 shares (Indirect, By Vingroup);
VFDI Series 2 Preference Shares — 1,474,952 shares (Indirect, By Vingroup);
VFDI Series 3 Preference Shares — 4,546,344 shares (Indirect, By Vingroup);
Ordinary Shares — 1,185,010,424 shares (Indirect, By Vingroup)
Footnotes (1)
- Consists of 1,185,010,424 ordinary shares held of record by Vingroup Joint Stock Company ("Vingroup"), a public company listed on the Ho Chi Minh Stock Exchange, in which the Reporting Person, directly and through a majority-owned affiliate, holds a majority interest. The Reporting Person disclaims beneficial ownership of the shares held by Vingroup except to the extent of his pecuniary interest therein, if any. Consists of 769,584,044 ordinary shares held of record by Vietnam Investment Group Joint Stock Company ("VIG"), a joint stock company organized in Vietnam and a majority-owned affiliate of Mr. Pham. The Reporting Person disclaims beneficial ownership of the shares held by VIG except to the extent of his pecuniary interest therein, if any. Consists of 334,041,555 ordinary shares held of record by Asian Star Trading & Investment PTE.LTD. ("Asian Star"), a Singapore private company and a wholly-owned affiliate of Mr. Pham. The Reporting Person disclaims beneficial ownership of the shares held by Asian Star except to the extent of his pecuniary interest therein, if any. Consists of 105,939,383 CPUD VFTP01 preference shares ("VFTP Series 1 Preference Shares") in the capital of VinFast Trading and Product Joint Stock Company ("VFTP"), a joint stock company organized in Vietnam and a subsidiary of the Issuer, held of record by Vingroup and exchangeable for the Issuer's ordinary shares at an exchange rate of 4.5 VFTP Series 1 Preference Shares to 1 ordinary share, subject to obtaining necessary approvals and other conditions. The VFTP Series 1 Preference Shares have no expiration date. Consists of 102,589,457 CPUD VFTP02 preference shares ("VFTP Series 2 Preference Shares") in the capital of VFTP held of record by Vingroup and exchangeable for the Issuer's ordinary shares at an exchange rate of 1.7 VFTP Series 2 Preference Shares to 1 ordinary share, subject to obtaining necessary approvals and other conditions. The VFTP Series 2 Preference Shares have no expiration date. Consists of 807,500,229 CPUD VFTP03 preference shares ("VFTP Series 3 Preference Shares") in the capital of VFTP held of record by Vingroup and exchangeable for the Issuer's ordinary shares at an exchange rate of 4.5 VFTP Series 3 Preference Shares to 1 ordinary share, subject to obtaining necessary approvals and other conditions. The VFTP Series 3 Preference Shares have no expiration date. Consists of 3,542,643,385 CPUD VFTP05 preference shares ("VFTP Series 5 Preference Shares") in the capital of VFTP held of record by Vingroup and exchangeable for the Issuer's ordinary shares at an exchange rate of 10.1 VFTP Series 5 Preference Shares to 1 ordinary share, subject to obtaining necessary approvals and other conditions. The VFTP Series 5 Preference Shares were issued in three tranches on December 30, 2024, March 31, 2025 and December 22, 2025, were exercisable from their issuance date, and have no expiration date. Consists of 14,314,901 CPUD VFDI01 preference shares ("VFDI Series 1 Preference Shares") in the capital of VinFast Investment and Development Joint Stock Company ("VFDI"), a joint stock company organized in Vietnam and a subsidiary of the Issuer, held of record by Vingroup and exchangeable for the Issuer's ordinary shares at an exchange rate of 24 VFDI Series 1 Preference Shares to 1 ordinary share, subject to obtaining necessary approvals and other conditions. The VFDI Series 1 Preference Shares have no expiration date. Consists of 2,507,419 CPUD VFDI02 preference shares ("VFDI Series 2 Preference Shares") in the capital of VFDI held of record by Vingroup and exchangeable for the Issuer's ordinary shares at an exchange rate of 1.7 VFDI Series 2 Preference Shares to 1 ordinary share, subject to obtaining necessary approvals and other conditions. The VFDI Series 2 Preference Shares have no expiration date. Consists of 109,112,261 CPUD VFDI03 preference shares ("VFDI Series 3 Preference Shares") in the capital of VFDI held of record by Vingroup and exchangeable for the Issuer's ordinary shares at an exchange rate of 24 VFDI Series 3 Preference Shares to 1 ordinary share, subject to obtaining necessary approvals and other conditions. The VFDI Series 3 Preference Shares have no expiration date.
Key Figures
Ordinary shares via Vingroup: 1,185,010,424 shares
Ordinary shares via VIG: 769,584,044 shares
Ordinary shares via Asian Star: 334,041,555 shares
+4 more
7 metrics
Ordinary shares via Vingroup
1,185,010,424 shares
Held of record by Vingroup as described in footnote F1
Ordinary shares via VIG
769,584,044 shares
Held of record by Vietnam Investment Group (VIG), footnote F2
Ordinary shares via Asian Star
334,041,555 shares
Held of record by Asian Star Trading & Investment, footnote F3
Underlying VFTP Series 1 ordinary shares
23,542,085 shares
Underlying shares for VFTP Series 1 Preference Shares, indirect
Underlying VFTP Series 5 ordinary shares
350,756,770 shares
Underlying shares for VFTP Series 5 Preference Shares, indirect
Underlying VFDI Series 3 ordinary shares
4,546,344 shares
Underlying shares for VFDI Series 3 Preference Shares, indirect
Preference share exercise price
$0.0000 per share
Exercise price shown for VFTP and VFDI preference share series
Key Terms
preference shares, exchangeable, pecuniary interest, majority-owned affiliate, +1 more
5 terms
exchangeable financial
"held of record by Vingroup and exchangeable for the Issuer's ordinary shares at an exchange rate"
pecuniary interest financial
"disclaims beneficial ownership of the shares held by Vingroup except to the extent of his pecuniary interest therein"
majority-owned affiliate financial
"in which the Reporting Person, directly and through a majority-owned affiliate, holds a majority interest"
beneficial ownership financial
"The Reporting Person disclaims beneficial ownership of the shares held by VIG except to the extent"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
FAQ
What does the VinFast (VFS) Form 3/A filing for Vuong Pham Nhat show?
The amended Form 3 shows indirect ownership holdings by VinFast CEO Vuong Pham Nhat through entities such as Vingroup, VIG, and Asian Star. It lists large blocks of ordinary shares and exchangeable preference shares, without reporting any new purchases or sales.
Does the VinFast (VFS) Form 3/A indicate any insider buying or selling?
The Form 3/A does not show any insider buying or selling. All entries are coded as holdings with unknown transaction codes, reflecting indirect ordinary share blocks and preference shares, rather than new acquisitions or dispositions in the market.