ANTD.VN - The successful listing on the US Nasdaq stock exchange not only opens up access to the world's largest capital market and an important direction for the development of VinFast electric car company, but also encourages, inspires and opens up many opportunities for Vietnamese brands to reach international standards.
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VinFast is one of the pioneering Vietnamese brands reaching out to the world. |
From the “inspirational story” VinFast
The stock code “VFS” of VinFast Production and Trading Company Limited (VinFast) is continuing to have a series of sublime days after ringing the bell to debut on Nasdaq Global Select Market in New York City, USA, on August 15 (Vietnam time). In the most recent trading session on August 28 (New York time, USA), VFS continued to set a new peak of 93 USD per share. Although there was a subsequent downward adjustment, the stock of this Vietnamese electric car company still closed the trading session at 82.35 USD/share, up nearly 20% compared to the beginning of the day and up nearly 4 times compared to the starting price of 22 USD per share. The liquidity of VFS shares for the entire trading day reached 12.62 million units with a total trading value of more than 1 billion USD.
With the above price, the market capitalization of VinFast electric car company is at 191 billion USD, closely following Toyota's 2nd position and after Tesla; far surpassing a series of other famous global car brands such as Porsche, Mercedes-Benz, BMW... Along with the series of consecutive days of VFS stock price increase on Nasdaq, on Forbes' ranking, billionaire Pham Nhat Vuong's assets continued to increase by 10.2 billion USD to 66 billion USD, rising to 16th place in the list of the richest people in the world.
According to analysts, VinFast's stock price increased following the upward trend of the US stock market when the Nasdaq Composite Index (IXIC) increased sharply by 114 points to 13,705 points on August 28. In addition, VFS shares continued to increase in the context of the free float being quite low at 4.5 million units compared to more than 2.3 billion shares of the Vietnamese electric car company listed on the Nasdaq.
However, VinFast Global CEO Le Thi Thu Thuy said that a larger number of VFS shares are expected to be released to the market in the next 6 months to a year. It is expected that about 3 million more VFS shares will be released in the first round and about 30 million in the following period.
Regarding the listing of a Vietnamese brand on the world's leading stock market, Ms. Le Thi Thu Thuy said that becoming a listed company in the US is an important milestone in VinFast's global development journey. This is not simply a transaction on the stock market but also a recognition of our strong belief in our vision and potential, as well as our commitment to making smart, safe and environmentally friendly electric vehicles more accessible to everyone. "The story of VinFast will certainly inspire, help large enterprises in Vietnam have more motivation and experience to follow VinFast to bring Vietnamese brands to the international level" - that is the opinion of experts about the listing of a pure electric car manufacturer of Vietnam on the US stock exchange.
In fact, VinFast is not the first Vietnamese company to be listed on the US stock exchange. Previously, in 2006, Vietnam Construction and Investment Joint Stock Company (Cavico) had a "backdoor" listing on the Pink Sheets of the US stock market through SPAC, then on the OTC.BB floor in 2008. It was not until September 2009 that Cavico officially set foot on the Nasdaq floor. However, after only 2 years, Cavico's CAVO shares were delisted due to violations of information disclosure requirements. However, that was the first step for Cavico to reach the world market. In 2021, Cavico signed a contract with Laos to exploit a Nickel mine with reserves of up to 470,000 tons within 20 years. In 2022, Cavico will carry out a project to build a mineral processing plant, with a capacity of 70,000 - 100,000 tons/year at the Nickel plant, helping Vietnam to be proactive in supplying batteries for electric vehicles.
Vietnamese brands are strong enough to reach far in the world market
Along with VinFast, in recent years, a number of other Vietnamese enterprises have also planned to list on foreign stock exchanges, including Vietjet Air. Currently, Vietnamese airline Vietjet Air (VJC) is being listed on UPCOM and HOSE. It can be seen that a successful IPO in developed countries, especially in the US, is the desire of many Vietnamese enterprises aiming for sustainable development and reaching the world. Many experts share the view that listing in the US is an opportunity to access large capital sources as well as increase the value of the company in the global market. The problem is that enterprises must strive to meet the conditions and have enough determination to achieve that goal. In fact, with tireless efforts, many Vietnamese enterprises have been gradually affirming their position in the international market, bringing "Made in Vietnam" and "Make in Vietnam" products to global consumers.
Among the most valuable Vietnamese brands, Vinamilk has contributed to turning Vietnam from a country with almost no dairy industry into a dairy exporter, bringing Vietnamese dairy products to more than 50 countries and territories. Vinamilk is in the top 50 largest dairy companies in the world and continues to expand its export market. Interestingly, despite being present in more than 50 countries and territories, the brands that made Vinamilk famous, "Ong Tho" and "Ngo Sao Phuong Nam", still keep their packaging almost intact, creating a mark of Vietnamese identity in the world.
Not only popularizing mobile phones - a luxury service that only 5% of the Vietnamese population had access to at the end of the 20th century, Viettel has entered the market of 17 countries and quickly made an impression by becoming one of the 5 largest telecommunications equipment manufacturers in the world, with annual revenue reaching over 10 billion USD, equivalent to 3% of Vietnam's GDP. Viettel's record growth is a clear demonstration of the determination of a Vietnamese brand to not only conquer the domestic market but also enter the world market in the new era.
Hoa Phat Furniture - renamed The One Furniture since early 2022 - is a pioneering brand leading the Vietnamese furniture industry, creating "national" products associated with many generations of domestic consumers and also quite successful abroad. After nearly 3 decades of operation, the brand's reputation has been proven by the trust of many customers in many "difficult" markets such as the US, Japan, Korea, Singapore, the Middle East, etc.
VinFast's "inspirational story" is not only about business but also about affirming that Vietnamese brands can reach far in the world market, even with high-end products and consumer segments. The fact that more and more Vietnamese brands are entering the world market shows the right and timely steps and the process of rising in globalization. That is also the reason why Brand Finance organization evaluates that Vietnam is very active in building and developing a global national brand.
According to the assessment of this UK-based national brand valuation organization, despite the negative impacts of the Covid-19 pandemic and political conflicts around the world, the Vietnam National Brand is the national brand with the fastest growth rate in value in the world, with an increase of 74% in the period 2019-2022. A report by Brand Finance shows that the value of the Vietnam National Brand in 2020 increased by 29.1% compared to 2019, reaching 319 billion USD; in 2021, it increased by 21.6% compared to 2020, reaching 388 billion USD; in 2022, it increased by 11.1% compared to 2021, reaching 431 billion USD. In the Top 100 Strongest National Brands in the World assessment table by Brand Finance, Vietnam National Brand is always ranked in the top half of the ranking and has increased steadily over the years. In 2022, Vietnam National Brand is ranked 32/100.
More than 15 years ago, the Prime Minister decided to choose April 20 every year as Vietnam Brand Day (the first day was April 20, 2008) with the aim of building the image of Vietnam as a country with high-quality products and services and high competitiveness, creating a solid reputation in the domestic and international markets. Since then, many policies have been introduced to support Vietnamese brands. Vietnamese enterprises have also actively sought and expanded international markets and participated more deeply in global supply chains, in which many Vietnamese enterprises have gradually affirmed their position in the international market.
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