Vingroup divests stake in genetic testing company

By Quang Tue   May 23, 2022 | 10:24 pm PT
Vingroup divests stake in genetic testing company
Researchers conduct a genetic test at a Vinmec hospital. Photo by H. Long
Conglomerate Vingroup has sold an undisclosed stake in GeneStory, a company it established to provide genetic testing services in Vietnam.

Vingroup said recently it is no longer the parent company of GeneStory without mentioning how much stake it sold.

The country’s biggest private company established GeneStory in March this year with a charter capital of VND102.3 billion (US$4.4 million), of which it accounted for 99 percent.

According to GeneStory’s website, its CEO is Nguyen Duc Long, who is also the chief technology officer of the Vingroup Big Data Institute.

It aims to provide "fast and comprehensive genetic testing services based on a large Vietnamese dataset, exclusively for Vietnamese people."

It charges VND6.45-9.75 million ($278-420) for a test.

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