Vietnam-based EV maker VinFast plans for U.S. IPO

VinFast Trading & Investment announced that it has publicly filed a registration statement on Form F-1 with the Securities and Exchange Commission or SEC, relating to the proposed initial public offering of its ordinary shares. The number of shares to be offered and the price range for the proposed offering have not yet been determined. VinFast intends to list its ordinary shares on the Nasdaq Global Select Market under the symbol "VFS". Citigroup Global Markets Inc., Morgan Stanley , Credit Suisse and J.P. Morgan Securities will act as lead book-running managers and as representatives of the underwriters for the proposed offering. BofA Securities, Inc., BNP Paribas Securities, HSBC Securities Nomura Securities International, Inc., WR Securities and RBC Capital Markets, will also be book-running managers. Robert W. Baird & Co. Incorporated will act as co-manager for the proposed offering. Publicly listed companies in the EV space include: Tesla (TSLA), Nio (NIO), Li Auto (LI), XPeng (XPEV), ChargePoint (CHPT) , Rivian Automotive (RIVN) and Alphabet (GOOG).