Tonight VinFast shares officially traded on Nasdaq

At 8:00 p.m. tonight (August 15) Vietnam time, VFS shares of the Vietnamese car brand - VinFast Auto Ltd. began their official trading session on the Nasdaq Global Select Market (USA). VFS opened at $22/share, more than double the closing price of $10.45 of BSAQ shares of Black Spade Company before merging with VinFast.

VFS shares rose to over $23 at one point while many stocks on Wall Street were trading in the red. At 9:30 p.m., VFS shares were still trading around $20 per share, although all three major Wall Street indices were also down at 9:30 p.m., with Nasdaq down 0.96%, S&P 500 down 0.54%, and Dow Jones down 0.84%.

The opening bell event on Nasdaq took place right after VinFast successfully completed the business merger transaction with Black Spade Acquisition Co (Black Spade) on August 14. Accordingly, VinFast has officially become a publicly listed company with global stature, and is the Vietnamese brand with the largest market capitalization listed on the US stock exchange to date with more than 23 billion USD.

Tối nay cổ phiếu VinFast chính thức giao dịch trên sàn chứng khoán Nasdaq - Ảnh 1. — VinFast's VFS shares officially traded on Nasdaq stock exchange

The official listing on the world's largest capital market is a historic milestone in VinFast's development roadmap. The event not only opens up opportunities to access international capital markets, promoting VinFast's strong development in the future, but also inspires Vietnamese brands to reach out to the world.

VinFast Global CEO 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, fulfilling our commitment to the sustainable mobility revolution on a global scale. In addition, the event also opens up access to the world's largest capital market and an important direction for the company's future development. We hope that VinFast's story will inspire and open up many opportunities for Vietnamese brands to reach out to the world."

VinFast also recently started construction of 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.

As of June 30, 2023, VinFast has delivered approximately 19,000 electric cars including VF e34, VF 5, VF 8, VF 9 models. In the coming time, VinFast will continue to launch 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.

In Vietnam, VinFast has established a strong 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 VinFast showrooms and service workshops.

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