VinFast aims to raise up to $1 billion for a potential IPO in the US
 |
Bloomberg reported that VinFast and its financial advisors have contacted potential investors to see whether they are interested.
Furthermore, discussions are still underway but there is no guarantee that the fund-raising campaign would be successful. VinFast is looking at a variety of funding possibilities, including convertible debt, Bloomberg noted.
According to Vingroup vice chairwoman Le Thi Thu Thuy in an interview in November 2021, VinFast wanted to spend up to $6 billion to construct an EV manufacturing in the US and was in negotiations with possible investors to raise billions of dollars to fund the development.
Thuy also revealed that VinFast would file for an IPO in the US in a year or two and that the company is valued at $25-$60 billion, said Bloomberg.
Last December, Vingroup secured a $400-million loan from international lenders to fund the sustainable development of VinFast and other subsidiaries.
The lenders who participated in the funding were BNP Paribas, Cathay United Bank, Credit Suisse, HSBC, Maybank, and Taipei Fubon.
What the stars mean:
★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional
Tag:Related Contents
Latest News
More News
- MPI calls for high-tech, green energy cooperation from Washington investors (April 10, 2024 | 15:33)
- Vietnam's economic growth expected to pick up in 2024 (April 09, 2024 | 15:16)
- European business confidence at highest since 2022 (April 08, 2024 | 09:55)
- Where is environmental governance in FDI attraction? (April 08, 2024 | 09:45)
- 2024 is expected to see fiercer competition in FMCG (April 04, 2024 | 16:53)
- Vietnamese startups bag $35.7 million in first quarter of 2024 (April 02, 2024 | 16:40)
- Investors increasingly optimistic about manufacturing sector (April 01, 2024 | 14:51)
- Soaring German investments are testament to trust in Vietnam (April 01, 2024 | 09:52)
- Prime Minister works with Japan Business Federation (March 29, 2024 | 08:00)
- Game-changing ESG initiatives expected (March 26, 2024 | 09:09)
Mobile Version