VinFast to List on NYSE in August

VinFast to List on NYSE in August

VinFast, a Vietnamese electric vehicle (EV) maker, is set to list on the New York Stock Exchange (NYSE) in August. The company has already received approval from the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO).

VinFast plans to raise $2 billion through its IPO. The proceeds will be used to fund the company’s expansion plans in the U.S. and Europe. VinFast is also planning to build a new EV factory in North Carolina.

The company’s IPO is being seen as a major milestone for the Vietnamese automotive industry. It is the first Vietnamese company to list on a major U.S. stock exchange. VinFast’s success could pave the way for other Vietnamese companies to go public in the U.S.

VinFast is one of the fastest-growing EV makers in the world. The company has already sold over 100,000 EVs in Vietnam. VinFast plans to sell its EVs in the U.S. and Europe in the coming years.

The company’s IPO is being well-received by investors. VinFast’s shares are expected to be priced at between $9 and $10 per share. The company could be valued at up to $27 billion after its IPO.

VinFast’s IPO is a sign of the growing demand for EVs. The global EV market is expected to grow from $160 billion in 2022 to $800 billion in 2028. VinFast is well-positioned to capitalize on this growth.

The company has a strong management team with experience in the automotive industry. VinFast also has a clear vision for the future of mobility. The company is committed to making EVs that are affordable and accessible to everyone.

VinFast‘s IPO is a major event for the Vietnamese automotive industry and the global EV market. The company’s success could pave the way for other Vietnamese companies to go public in the U.S. and for the growth of the global EV market.

Business 99.1 - Utah's Home for Bloomberg Radio

In addition to the above, here are some other interesting facts about VinFast:

  • The company was founded in 2017 by Pham Nhat Vuong, Vietnam’s richest man.
  • VinFast’s first EV, the VF e34, was launched in Vietnam in 2021.
  • The company plans to launch 5 new EVs in the U.S. by 2024.
  • VinFast’s factory in North Carolina is expected to create 7,000 jobs.
  • The company has a partnership with BMW to develop electric car technology.

VinFast is a young company with a bright future. The company’s IPO is a major milestone that could help it achieve its goals of becoming a global leader in the EV market.