Vietnamese electric vehicle (EV) maker VinFast unveiled on December 7 that it has submitted a listing application under the form F-1 to the US Securities and Exchange Commission (SEC) as it prepares for an initial public offering (IPO).
A representative of VinFast introduces two electric SUV models, VF e35 and VF e36, at the 2021 Los Angeles Auto Show in the United States – PHOTO: VINGROUP
At present, the number of shares set to be offered and the expected price range has yet to be determined.
VinFast plans to list common shares on the Nasdaq Global Select Market with the ticker symbol "VFS".
Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, and J.P. Morgan Securities LLC will act as lead book-running managers and as representatives of the underwriters for the proposed offering.
Furthermore, BNP Paribas Securities Corp., HSBC Securities (USA) Inc., RBC Capital Markets, LLC, and Wolfe will also serve as the book-runners for the deal. In addition, Robert W. Baird & Co. Incorporated will act as co-manager for the proposed offering.
According to VinFast, these securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.
At present, the company’s EV price in the US market stands at US$42,000, plus a battery subscription, while a Tesla Model 3 costs US$40,000.
