VinFast plans its Nasdaq listing on August 15
VOV.VN - Vietnamese electric vehicle maker VinFast is scheduled to list its share on the Nasdaq Global Select Market on August 15 after its partner Black Spade Acquisition Co. adopted the business combination plan at a special shareholders’ meeting on August 10.
The business combination is expected to be completed on August 14, and the listing of the shares VFS and VFSWW will go public the following day.
Today’s voting results show the trust Black Spade shareholders place in VinFast, said Le Thi Thu Thuy, Global CEO of VinFast.
Dennis Tam, chairman and Co-CEO of Black Spade Acquisition Co noted that shareholders approved the business combination demonstrates their confidence in the vision and potential of the relationship between Black Spade and VinFast.
In May 2023 VinFast and Black Spade entered into a business combination agreement to prepare for VinFast's initial public offering (IPO) in the US stock market.
If the listing is successful, the special purpose acquisition companies (SPAC) merger would cap VinFast’s years-long efforts to become a publicly traded company.
Bloomberg News reported in early 2021 that VinFast’s parent company Vingroup JSC was considering a US$2 billion US IPO for the leading EV maker. The company decided to abandon its IPO plan and agreed to the SPAC deal instead.
VinFast’s profile is now available on the Nasdaq website. The carmaker aims to be a leader in the future of Smart Mobility through its intelligent, thoughtful and inclusive EV platform. It desires to foster a cleaner and more sustainable approach to 21st century mobility that is evolutionary and revolutionary.
Its all-electric sports utility vehicles (SUVs) have been delivered to customers in Vietnam and North America. Customers in Europe are expected to receive VinFast cars soon.
VinFast’s EV models that have been handed over in the Vietnamese market include VF e34, VF 8, VF 9 and VF 5. In early 2023, the company shipped the first two batches of VF 8s to North America. Most recently, the EV maker started construction of an electric vehicle factory in North Carolina (USA).
