VinFast has provided more details on its IPO, just as the company's U.S. deliveries start.
The Vietnamese EV startup announced that it has filed relevant documents with the U.S. Securities and Exchange Commission, and that it plans to list its shares on the Nasdaq.A possible timeline for the listing will be announced at a late date. VinFast will also announce the number of shares to be offered and the price range closer to the listing date.
Due to the extra scrutiny required for IPOs, most EV startups in recent years have chosen the easier route of SPAC deals when going public. One of the exceptions was Rivian whichBut unlike rival EV startups, VinFast has deep pockets. It's part of Vietnamese conglomerate Vingroup, which specializes in construction and real estate development but is also involved in agriculture, healthcare, retail, tourism and numerous other sectors.
VinFast is also showing rapid growth. Despite only launching its first vehicle in Vietnam in 2018, the company has already earmarked the sale of
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