VIC: BoD approves to restructure its subsidiary

On April 12, 2016, the Board of Directors of Vingroup Joint Stock Company (VIC) approved to restructure its subsidiary Royal City Real Estate Development and Investment JSC (hereinafter called “Royal City Company”) by splitting Royal City Company.

After the split-up, Vingroup Joint Stock Company will still be the parent company owning 80.82% stake of Royal City Company.

A new subsidiary will be established based on the split-up:

-          Name of new company: Royal City Development & Investment Co., Ltd (*)

-          Head office: 7 Bang Lang 1, Vinhomes Riverside, Viet Hung ward, Long Bien district, Hanoi city.

-          Charter capital: VND757 billion (owned entirely by Vingroup Joint Stock Company)

(*) temporary translation

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