Vietnamese electric-vehicle maker VinFast plans to list its shares on the Nasdaq Global Select Market during the third quarter after merging with a special purpose acquisition company, according to a person familiar with the matter who asked not to be named because the information is private.
(Bloomberg) — Vietnamese electric-vehicle maker VinFast plans to list its shares on the Nasdaq Global Select Market during the third quarter after merging with a special purpose acquisition company, according to a person familiar with the matter who asked not to be named because the information is private.
A company representative said that VinFast and Black Spade Acquisition Co. will discuss and decide whether to list VinFast on the New York Stock Exchange or Nasdaq and will announce more information about the listing at the appropriate time, according to an e-mailed statement.
VinFast had said in May that it will list in the US by merging with SPAC company Black Spade in the second half of this year. The deal, expected to be completed by July 20, would give VinFast an equity value of about $23 billion.
The EV maker had prepared for a traditional IPO before the capital markets became “very challenging” during the last 18 months, which is why the company opted to merge with a SPAC company, Chief Executive Officer Le Thi Thu Thuy said in May.
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