VinFast eyes mega-IPO on Wall Street this year

Vietnam car maker VinFast, part of the country’s largest private conglomerate Vingroup, is considering an initial public offering (IPO) in the US which could raise around $2 billion.

The IPO could take place as soon as this quarter and would be the biggest-ever by a Vietnamese company and the first of a Vietnamese firm to list in the US. The listing could value the company at around $60 billion.

The IPO would be one potential option to raise money, the other being an equity investment via a special-purpose acquisition company, or SPAC, newswires cited insiders.

Vingroup was already working with Credit Suisse Hong Kong for a potential stock offering on the New York Stock Exchange.

Electric car rollout in the making

VinFast, founded by billionaire Pham Nhat Vuong who is also founder and chairman of Vingroup, began delivering gasoline-powered autos shaped by Italian design firm Pininfarina to Vietnamese consumers with BMW-licensed engines in 2019. The carmaker plans a Vietnam roll-out of electric cars later this year.

The startup aims to deliver its first electric vehicles to the US, Canada and Europe next year and is looking to open a factory in the US.



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Vietnam car maker VinFast, part of the country’s largest private conglomerate Vingroup, is considering an initial public offering (IPO) in the US which could raise around $2 billion. The IPO could take place as soon as this quarter and would be the biggest-ever by a Vietnamese company and the first of a Vietnamese firm to list in the US. The listing could value the company at around $60 billion. The IPO would be one potential option to raise money, the other being an equity investment via a special-purpose acquisition company, or SPAC, newswires cited insiders. Vingroup was already working with...

Vietnam car maker VinFast, part of the country’s largest private conglomerate Vingroup, is considering an initial public offering (IPO) in the US which could raise around $2 billion.

The IPO could take place as soon as this quarter and would be the biggest-ever by a Vietnamese company and the first of a Vietnamese firm to list in the US. The listing could value the company at around $60 billion.

The IPO would be one potential option to raise money, the other being an equity investment via a special-purpose acquisition company, or SPAC, newswires cited insiders.

Vingroup was already working with Credit Suisse Hong Kong for a potential stock offering on the New York Stock Exchange.

Electric car rollout in the making

VinFast, founded by billionaire Pham Nhat Vuong who is also founder and chairman of Vingroup, began delivering gasoline-powered autos shaped by Italian design firm Pininfarina to Vietnamese consumers with BMW-licensed engines in 2019. The carmaker plans a Vietnam roll-out of electric cars later this year.

The startup aims to deliver its first electric vehicles to the US, Canada and Europe next year and is looking to open a factory in the US.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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