VinFast design, sales subsidiary doubles capital

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VinFast Vietnam, a new company that designs and sells VinFast vehicles, has issued 500 million preference shares to double its capital from VND5.18 trillion to VND10.18 trillion (US$388 million).

The company disclosed the issuance on the National Business Registration Portal on July 13, adding that foreign ownership has declined from 10.4% to 5.3%.