Tue, 31 Jan 2023

Vietnamese automaker VinFast files for IPO in U.S.

Xinhua
07 Dec 2022, 21:49 GMT+10

HANOI, Dec. 7 (Xinhua) -- Vietnamese electric vehicle maker VinFast has publicly filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (SEC) relating to the proposed initial public offering (IPO) of its ordinary shares, Vietnam News Agency reported on Wednesday.

The number of shares to be offered and the price range for the proposed offering have not yet been determined and the company intends to list its ordinary shares on the Nasdaq Global Select Market under the symbol VFS, it said in a press release issued on Wednesday.

If successful, VinFast will be Vietnam's first company to list in the United States.

It became Vietnam's first domestic automaker when it began manufacturing internal combustion vehicles in 2019. VinFast now focuses entirely on electric vehicles with global showrooms in the United States, Canada, and Europe.

According to latest data from the Vietnam Automobile Manufacturers' Association, a total of 332,963 units of automobile were sold in the Vietnamese market in the first 10 months of this year, surging 52 percent year on year.

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