TẠP CHÍ ĐIỆN TỬ
VinFast hits milestone with Nasdaq listing
With the ticker ‘VFS’, VinFast shares are being traded in the US from August 15.
Vietnamese auto-maker VinFast celebrated a historic achievement on August 15 after listing and initiating the trading of its shares on the Nasdaq Global Select Market. Under the ticker “VFS”, VinFast now holds an impressive equity value in excess of $23 billion.
The accomplishment follows its successful merger with Black Spade Acquisition Co. on August 14. To mark this momentous occasion, VinFast proudly rang the opening bell at Nasdaq on its day of listing. The move officially crowns VinFast as the largest Vietnamese company to be listed on the US stock market, establishing its presence with significant market capitalization.
Operating under the name VinFast Auto Ltd., the combined entity will be led by Global CEO Le Thi Thu Thuy and supported by a dynamic senior management team. Black Spade will continue to provide strategic guidance for brand growth and investor engagement.
“Becoming a US-listed company marks a significant milestone in VinFast’s global expansion,” said Ms. Thuy. “More than just a transaction on the stock market, going public reflects a powerful vote of confidence in our vision and potential, and fulfils our pledge to make smart, safe, and environmentally-friendly electric vehicles accessible to everyone. It is also our hope that VinFast’s listing will inspire and unleash greater opportunities for Vietnamese brands to participate in the global market.”
VinFast’s growth strategy includes strategic partnerships with distributors and dealers in key markets such as North America, Europe, Vietnam, and Southeast Asia, reinforcing its standing in the global electric vehicle market.
The Nasdaq bell-ringing event and listing on the world’s foremost capital market mark a significant stride forward in VinFast’s global expansion. Beyond enhancing development opportunities, the landmark moment paves the way for Vietnamese brands to play an increasingly influential role in the global economy.
The merger between VinFast and Black Spade was officially confirmed on August 14 in New York, making way for the newly-named VinFast Auto Ltd. Stocks and warrants commenced trading on Nasdaq on August 15.
“We are very pleased to announce the successful completion of the business combination with VinFast,” said Mr. Dennis Tam, Chairman and Co-CEO of Black Spade. “We are confident that VinFast will maintain its commitment to offering high-quality products accompanied by outstanding after-sales services. Listing on Nasdaq will enhance VinFast’s global outreach by facilitating even wider access to capital. Driven by a shared aspiration to shape a better future through innovation, we anticipate our cooperation with VinFast will bring about a fresh chapter of sustainable mobility.”
“I sincerely appreciate the wonderful cooperation with Black Spade as our respected partners, who are joining us in our ‘boundless together’ journey towards a greener future for us and future generations,” said Ms. Thuy.
