Dynamic Invest contributed nearly VND1.42 trillion ($53.7 million) for the stake.

VinEnergo was originally established with charter capital of VND2 trillion (75.88 million), of which Vingroup (HoSE: VIC) held 19%, Vuong owned 71% and his sons, Pham Nhat Quan Anh and Pham Nhat Minh Hoang, each held 5%.

The company has since undergone two major capital increases, rising to VND10 trillion ($379.41 million) in June and to VND28.33 trillion ($1.08 billion) in October.

The filing also confirms that Vingroup’s capital contribution remains unchanged at VND5.38 trillion dong ($204.26 million), equivalent to its 19% stake

Dynamic Invest has previously appeared in Vingroup-related transactions. It held 20.3 million shares, or 11.28%, in hospitality arm Vinpearl when the company delisted in 2011 ahead of its merger into Vingroup. Vinpearl returned to the Ho Chi Minh Stock Exchange in May under the ticker VPL.

VinEnergo JSC has expanded its business scope to include power transmission and electricity retail, marking a deeper push by Vietnam’s largest private conglomerate into the energy sector.

According to a recent corporate filing, VinEnergo now operates across nine business lines, including electricity generation, electrical equipment manufacturing, power system installation, and power distribution. Two newly added activities under the electricity transmission and distribution category are wholesale and retail electricity sales.

Its flagship project, the Hai Phong LNG power plant, broke ground in September with a total investment of VND178 trillion ($6.77 billion). Spanning nearly 100 hectares in the northern port city of Hai Phong, the plant will have a designed capacity of 4,800 MW, making it Vietnam’s largest LNG-fired power facility.

Vingroup shares closed up 2.84% to VND217,000 ($8.23) each on Monday.