VinFast Debuts on Nasdaq; Equity Value of $23 Billion

VinFast Auto Ltd. has succesfully started the trading of its shares on the Nasdaq Global Select Market under the ticker symbol “VFS,” with an equity value of over $23 billion. The public listing in ther US follows the completion of the business combination with Black Spade Acquisition Co.

VinFast has become the largest Vietnamese company listed on the US stock market by market capitalisation.

The combined company will now operate as VinFast Auto Ltd. and continue to be led by Global CEO Le Thi Thu Thuy, or Madame Thuy Le.

VinFast has delivered close to 19,000 EVs including the VF e34, VF 5, VF 8, and VF 9 models, as of June 30, 2023.

It is also preparing for the upcoming launch of the VF 3, VF 6, and VF 7 models in the Vietnamese and global markets.

On July 28, 2023, VinFast broke ground at its new EV manufacturing facility in the US.

Madame Thuy Le, Global CEO of VinFast Auto Ltd., says: “VinFast has accelerated the global electric vehicle (“EV”) revolution by making smart, safe, and environmentally friendly EVs accessible to everyone. Today’s successful listing not only supports VinFast’s commitment to sustainable mobility at a global scale but also unlocks access to the capital markets and important avenues for future development. Further, it is our hope that VinFast’s listing will inspire and unleash greater opportunities for Vietnamese brands to participate in the global market.”

VinFast manufactures and exports a portfolio of electric SUVs, e-scooters and e-buses across Vietnam, the United States, and, soon, Europe