- EV maker VinFast, a unit of Vietnamese conglomerate Vingroup, is evaluating an initial public offering in the U.S. as early as January.
- VinFast may raise at least $1 billion, though it could be more depending on interest level, according to a Bloomberg report late Tuesday. The EV maker has had preliminary talks with investors.
- Vinfast plans to use proceeds from the US IPO to help fund construction of a manufacturing facility in North Carolina. Reports put the cost of the project at around $4B.
- In early April VinFast confidentially filed to hold an IPO in the U.S. that could be worth up to $2B. Last April Bloomberg reported that VinFast was planning a US IPO to raise as much as $3B.
For further details see:
Vietnamese EV maker VinFast said to plan IPO as soon as January