Vietnamese billionaire Pham Nhat Vuong has invested VND213 billion (US$8.1 million) to launch a new aerospace firm called VinSpace.
It will operate in six sectors, including aircraft, spacecraft and telecommunications satellites manufacturing and air transport, according to the firm’s registration document.
It has a charter capital of VND300 billion (US$11.4 million), of which Vuong owns 71%.
His conglomerate, VinGroup, holds a 19% stake and the rest is held by his sons Pham Nhat Quan Anh and Pham Nhat Minh Hoang.
Anh and Hoang also own shares worth trillions of dong in several VinGroup subsidiaries like energy firm VinEnergo, transportation infrastructure developer VinSpeed and technology company VinRobotics.
Source: VN Express