Vietnam's electric-vehicle maker VinFast said on Tuesday it had filed for an initial public offering (IPO) in the United States to list on the Nasdaq under ticker symbol 'VFS' to fund its expansion with a planned plant in North Carolina.
A man stands next to a VinFast vehicle at the company's plant in Hai Phong, Vietnam April 7, 2022. REUTERS/Thinh Nguyen
For the IPO, the company said it would convert to a Singapore public limited company and would be known as VinFast Auto Ltd, while the number of shares to be offered and the price range for the proposed offering had not yet been determined. , VinFast first flagged its U.S. IPO in April last year, aiming to raise $2 billion with valuation of about $60 billion.
"VinFast will continue to monitor opportunities for future fundraises, as the market becomes more familiar with the VinFast brand and story," she said. "VinFast intends to conduct an IPO after the SEC declares the registration statement effective, market conditions permitting," Thuy said, noting the company's primary objective was to successfully list VinFast on a U.S. stock exchange.shipped its first batch of 999 vehicles to the United States, capping a five-year bid to develop an auto production hub in Vietnam for markets in North America and Europe.
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