Vietnamese auto maker VinFast Auto Ltd. (VinFast) rings the bell to officially commence trading of its shares on the Nasdaq Global Select Market, the US.(Photo:Screenshots) Hanoi (VNA) – Vietnamese automaker VinFast Auto Ltd. (VinFast) rang thebell to officially commence tradingof its shares on the Nasdaq Global Select Market, the US, under the tickersymbol “VFS”.
With anequity value of over 23 billion USD, VinFast became the largestVietnamese company listed on the US stock market by market capitalisation.
VinFast’s public listing followed thecompletion of the business combination with Black Spade Acquisition Co (“BlackSpade”) on August 14.
The combined company will now operateas VinFast Auto Ltd. and continue to be led by Global CEO Le Thi Thu Thuy, whois supported by an experienced, diverse, and entrepreneurial senior managementteam. Black Spade will provide ongoing business advisory input for the growthof the brand and assist with direct investor engagement.
Commenting on this significant milestone, CEO Thuy saidthe successful listing not only supports VinFast’s commitment to sustainablemobility at a global scale but also unlocks access to the capital markets andimportant avenues for future development. Further, it is VinFast’s hope that thelisting will inspire and unleash greater opportunities for Vietnamese brands toparticipate in the global market.
VinFast has delivered close to 19,000 EVs including the VF e34, VF 5, VF 8, and VF 9 models, as of June 30, 2023. (Photo: VNA) According to the company’s website, VinFasthas delivered close to 19,000 EVs including the VF e34, VF 5, VF 8, and VF 9models, as of June 30, 2023. It is also preparing for the upcoming launch ofthe VF 3, VF 6, and VF 7 models in the Vietnamese and global markets. VinFastlooks forward to building upon its rapid expansion as the company rolls outnext-generation EVs and solutions, and carries out its strategy of expandingits footprint globally.
The company has established a strong foothold in its Vietnamesehome market by rolling out its own charging network spanning across 63 citiesand provinces, and plans to expand it further in the coming years. VinFast hasalso established a company-owned retail and service network of over 122 VinFaststores worldwide.
On July 28, 2023, VinFast broke ground at its new EVmanufacturing facility in the US. The event marked a significant step towardits global expansion and supply chain development in North America.
VinFast said the bell-ringing event at Nasdaq on August 15 andlisting in the world's largest capital market mark an important milestone inVinFast's global expansion. It does not only provide VinFast with moreopportunities for future development but also leads the way for otherVietnamese brands to play an increasing role in the global economy./.
