Vietnam’s EV Maker VinFast Plans U.S. IPO in Second Half of 2022
- VinFast has estimated post-IPO value of as much as $60 billion
- Parent Vingroup restructures VinFast to prepare for the IPO
Attendees view the VinFast VF e35 electric vehicle ahead of the Los Angeles Auto Show, on Nov. 17.
Photographer: Bing Guan/BloombergThis article is for subscribers only.
Vietnamese conglomerate Vingroup JSC is restructuring its automobile unit VinFast ahead of a planned U.S. initial public offering in the second half of 2022.
Vingroup’s 51.52% stake in VinFast will be transferred to a Singapore subsidiary, the company said in an emailed statement on Saturday. The EV maker, which aims to roll out electric SUVs in the U.S., Canada and Europe late next year, is working with investment banks to prepare for an IPO that would make VinFast one of the first Vietnamese companies to be traded in the U.S.