VinFast debuts on US stock exchange with capitalization of 50 billion USD

VinFast has just rung the opening bell on Nasdaq Global Select Market, officially becoming a publicly listed company on the US stock exchange.

VFS shares opened their first trading session on Nasdaq at $22. With about 2.3 billion shares outstanding, the estimated capitalization of this electric vehicle manufacturer is approximately $50 billion. VinFast has become the Vietnamese brand with the largest capitalization listed on the US stock exchange to date.

After the first 15 minutes of trading, VinFast's VFS shares fell to around $17, but then quickly rebounded. By 9:00 p.m. Vietnam time, VFS reached a peak of $23.11 per share.

VinFast officially traded on the US stock market from August 15. Screenshot. — VinFast officially traded on the US stock market from August 15. *Screenshot.*

At the bell-ringing ceremony in the US tonight, Ms. Le Thi Thu Thuy, Global CEO of VinFast, said that VinFast's successful listing will create a solid foundation for the goal of popularizing smart, safe and environmentally friendly electric vehicles, fulfilling their commitment to the sustainable mobility revolution on a global scale.

According to Ms. Thuy, today's event also opens up access to the world's largest capital market and is an important direction for the company's future development.

"We hope VinFast's story will inspire and open up many opportunities for Vietnamese brands to reach out to the world," she said.

The company will continue to be led by global CEO Le Thi Thu Thuy. She will be supported by a senior management team with extensive experience in many fields. Black Spade representatives will act as consultants for the global development of the VinFast brand and support investor attraction.

As of June 30, VinFast has delivered about 19,000 electric cars including models VF e34, VF 5, VF 8, VF 9. VinFast will continue to launch VF 6, VF 7, VF 3 in Vietnam and international markets.

In Vietnam, VinFast has deployed a network of charging ports covering 63 provinces and cities. Globally, VinFast has 122 showrooms and service workshops. They also just started construction on an electric car factory in the US on July 28, marking a new step in their plan to develop the market and become self-sufficient in supply in the North American region.

Minh Son

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