Vinasun founder’s family seeks to raise stake to 51.5%

Vietnamese taxi company Vinasun is seeking shareholder approval for CEO and board member Đặng Thành Duy to acquire more than 6 million shares from two investors without making a public tender offer. The shares represent about 8.9% of the company’s equity and are worth roughly VND 34 billion at current market prices. The transaction is expected to be completed through a negotiated deal. If successful, it would raise his family’s stake from about 42.5% to 51.5%, giving it control of the company.

Đặng Thành Duy currently owns about 5.7% of Vinasun. His father, company founder Đặng Phước Thành, stepped down from his leadership role three years ago but remains its largest individual shareholder, with a stake of nearly 25%. To pass all major business decisions without the agreement of other shareholders, the family would need to own more than 65%.

Vinasun CEO Đặng Thành Duy.（VietVance）

Vinasun shares have recently traded at around VND 5,600 each, down nearly 40% since the start of the year, with trading volume consistently low. No shares changed hands on the morning of November 11. The company lost nearly VND 55 billion in the third quarter of 2026, its largest quarterly loss since the COVID-19 period and its second consecutive quarterly loss. Revenue for the first nine months was nearly VND 600 billion, with a loss of about VND 69 billion.

Vinasun was once among the leading traditional taxi companies by market share in southern Vietnam. In 2016, it had more than 17,000 employees and revenue exceeding VND 4.5 trillion. Competition from ride-hailing platforms has put pressure on its business. Deputy CEO Trần Anh Minh said at the company’s annual meeting in April that the battle for market share had continued for years. The company is seeking new business projects and aims to turn a profit every year.

Source: VietVance