The merged company will have an enterprise value of approximately US$27 billion. The equity value will be US$23 billion after the merger, not including the amount converted from the US$169 million in cash held in trust. The transaction is expected to close in 2023 after receiving regulatory and shareholder approvals, as well as fulfilling other customary closing conditions. After the transaction, existing VinFast shareholders will own 99% of the merged company. VinFast Auto Pte. Ltd. CEO Le Thi Thu Thuy stated that VinFast has demonstrated its ability to rapidly penetrate international markets. The collaboration with Black Spade and the listing of VinFast on a US stock exchange will be a significant milestone for Vingroup . Dennis Tam, President and CEO of Black Spade Acquisition Co., shared: "VinFast has demonstrated excellent deployment and operational capabilities by building a production facility with a capacity of up to 300,000 electric vehicles per year and launching a range of high-quality, premium electric vehicles in just three years. With the support of Vingroup, one of the largest corporations in Vietnam, VinFast is well-positioned to capitalize on the green living trend with electric vehicles."
The leadership of Vingroup, VinFast , and Black Spade at the signing ceremony.
Established in 2017, VinFast manufactures and exports a range of electric SUVs, electric motorcycles, and buses throughout Vietnam, North America, and Europe. The VinFast factory in Hai Phong boasts up to 90% automation, with a phase 1 capacity of 300,000 vehicles per year. With the mission "For a green future for everyone," VinFast pioneered the transition to a purely electric brand starting in 2022. To date, VinFast has delivered electric vehicle models such as the VF e34 and VF 8.
The VF 9 and VF 5 have been delivered to Vietnamese customers. The company has also exported the first batches of VF 8 vehicles to North America.
Black Spade is listed on the NYSE in the United States. The company, founded by Black Spade Capital, currently manages a portfolio of cross-border investments.
Source link
Comment (0)