- VinFast (NASDAQ:VFS) shares had jumped more than 200 per cent since making its debut on the NASDAQ public market this week
- VinFast’s public listing follows the completion of the business combination with Black Spade Acquisition Co. on Aug. 14
- With this move, VinFast became the largest Vietnamese company listed on the U.S. stock market by market capitalization
- VinFast Auto Ltd. opened trading at US$37.06 per share
VinFast’s public listing follows the completion of the business combination with Black Spade Acquisition Co. on Aug. 14.
With this move, VinFast became the largest Vietnamese company listed on the U.S. stock market by market capitalization.
VinFast Auto’s CEO, Thuy Le, said in a news release the company’s listing not only supports its commitment to sustainable mobility at a global scale, but also unlocks access to the capital markets and important avenues for future development.
“Further, it is our hope that VinFast’s listing will inspire and unleash greater opportunities for Vietnamese brands to participate in the global market,” Le said in a statement.
On July 28, VinFast broke ground at its new EV manufacturing facility in the United States.
VinFast has delivered nearly 19,000 EVs including the VF e34, VF 5, VF 8, and VF 9 models, as of June 30. It is also preparing for the upcoming launch of the VF 3, VF 6, and VF 7 models in the Vietnamese and global markets.
The company has established a strong foothold in its Vietnamese home market by rolling out its own charging network spanning across 63 cities and provinces and plans to expand it further in the coming years.
VinFast Auto Ltd. is a Vietnam-based automotive manufacturer working to create green alternatives for transport. VinFast manufactures and exports a portfolio of electric SUVs, e-scooters and e-buses across Vietnam and the United States. It is also working toward entering the European market.
VinFast Auto Ltd. opened trading at US$37.06 per share.
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