Investing.com - Financial Markets Worldwide
Final hours! Save up to 55% OFF InvestingProCLAIM SALE

VinFast CEO Planning for U.S. IPO "Sometime in 2023"

Published 2022-09-21, 03:58 p/m
© Reuters

By Michael Elkins

Vietnamese Electric vehicle maker, VinFast looks to conduct its U.S. IPO “sometime in 2023” according to the company’s CFO, David Mansfield.

“We continue working on it,’” Mansfield said at a briefing held at the company’s factory in Haiphong, Vietnam. Mansfield added that the market conditions in 2022 are not providing “good opportunities” for conducting the IPO.

VinFast, the EV segment of Vietnamese conglomerate Vingroup JSC, said in April that it had filed confidentially for a U.S. IPO. Bloomberg reported earlier that the share sale could raise $2 billion, making it the biggest ever by a Vietnamese firm.

The company said in July that it had signed agreements with banks to raise at least $4 billion to help its US expansion. The automaker has secured about $1.2 billion in incentives for its planned EV factory in North Carolina, where it intends to start production in 2024.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.