At around 8:25 p.m. (Vietnam time) on August 15, VinFast was officially listed on the US stock exchange - Nasdaq Global Select Market after the bell-ringing ceremony was held.
The company has a market capitalization of more than 23 billion USD, operating under the legal entity VinFast Auto Ltd. with the trading code VFS.
The bell-ringing event on Nasdaq Stock LLC took place right after VinFast successfully completed its business merger transaction with Black Spade Acquisition Co on August 14.
Accordingly, VinFast has officially become a publicly listed company of global stature, and is the Vietnamese brand with the largest capitalization listed on the US stock exchange to date.
Leading the company after listing is global CEO Le Thi Thu Thuy. Ms. Thuy will be supported by a senior management team with extensive experience in many fields. Black Spade representatives will act as consultants for the global development of the VinFast brand and support investor attraction.
VinFast's listing on the US stock exchange was live streamed on Nasdaq.
VinFast CEO shared: "We hope VinFast's story will inspire and open up many opportunities for Vietnamese brands to reach out to the world ."
Sharing about this important milestone, Ms. Le Thi Thu Thuy said: "VinFast's successful listing will create a solid foundation for the goal of popularizing smart, safe and environmentally friendly electric vehicles to a wide range of consumers. This event also opens up access to the world's largest capital market and an important direction for the company's future development."
The listed price of VinFast shares is 22 USD. At around 9:00 p.m. Vietnam time, VinFast's VFS shares were trading at 20.6 USD. Trading volume is increasing quite rapidly, reaching about 1.2 million shares after about 30 minutes of listing on the US stock exchange.
As of June 30, VinFast has delivered approximately 19,000 electric cars - including the VF e34, VF 5, VF 8, VF 9 models. In the coming time, VinFast will continue to launch the VF 6, VF 7, VF 3 in Vietnam and international markets. The company will also quickly introduce solutions and the next generation of electric vehicles to continue expanding the brand's footprint, realizing the goal of greening transportation on a global scale.
VinFast's VFS stock price is being traded quite actively right after opening.
In terms of product and service infrastructure, in Vietnam, VinFast has established a solid position by planning and deploying a network of charging ports covering 63 provinces and cities and is continuing to expand further in the coming years. Globally, VinFast has built a retail and service network with 122 showrooms and VinFast service workshops.
VinFast also just started construction on an electric car factory in the US on July 28, marking a new step in its plan to develop the market and become self-sufficient in supply in the North American region.
In parallel with production and business activities, VinFast is striving to establish its brand position by exploiting the potential for cooperation with distributors and agents in dozens of key markets, including North America, Europe, Vietnam and Southeast Asia.
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