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Vingroup Said to Weigh $2 Billion U.S. IPO of Unit VinFast

  • An offering of VinFast could raise as much as $3 billion
  • Carmaker’s share sale may happen as soon as second quarter
Workers labor on a VinFast Impes electric scooter on the assembly line of the automaker's factory in Haiphong, Vietnam.

Workers labor on a VinFast Impes electric scooter on the assembly line of the automaker's factory in Haiphong, Vietnam.

Photographer: Linh Pham/Bloomberg
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Vingroup JSC is considering a U.S. initial public offering of its car unit VinFast that could raise about $2 billion, according to people familiar with the matter.

The biggest carmaker in Vietnam is working with advisers on the potential offering that could take place as soon as this quarter, the people said. An offering could raise as much as $3 billion, said the people, who asked not to be identified as the information is private. The company is seeking a valuation of at least $50 billion after a listing, one of the people said.