VinFast To Enter NASDAQ As "VFS"

At VinFast’s North Carolina groundbreaking ceremony, the Hanoi-based electrical automobile producer introduced it was within the closing phases of finishing a SPAC merger with Black Spade Acquisition Firm. After Black Spade’s shareholders convened, the merger was authorized.

Immediately, on August 15, 2023, VinFast rang the ticker bell and debuted on the NASDAQ Inventory Market. Utilizing ticker symbols “VFS” and “VFSWW,” VinFast is formally a publicly-traded firm in the US.

“Changing into a U.S-listed firm marks a major milestone in VinFast’s international growth. Greater than only a transaction on the inventory market, going public displays a robust vote of confidence in our imaginative and prescient and potential, in addition to fulfills our pledge to make sensible, secure, and environmentally pleasant electrical automobiles accessible to everybody,” mentioned VinFast World CEO, Madame Thuy Le in a press launch.

“I sincerely recognize the fantastic collaboration with Black Spade as our revered companions who’re becoming a member of us in our ‘boundless collectively’ journey in direction of a greener future for us and future generations,” she added.

Dennis Tam, Black Spade’s co-CEO mentioned, “A list on the Nasdaq will improve VinFast’s international outreach by facilitating even wider entry to capital. Pushed by a shared aspiration to form a greater future by means of innovation, we anticipate our collaboration with VinFast to convey a couple of contemporary chapter of sustainable mobility.”

This debut comes after the agency’s groundbreaking occasion, the place its first North American manufacturing facility is ready to be established. As soon as full, VinFast will function two manufacturing complexes: one stateside and the opposite in Haiphong, Vietnam.

Whereas VinFast nonetheless has far to go to ascertain itself within the American market, the automaker sees its inventory debut as a means not solely to extend capital however to additionally improve model consciousness.