 VinFast debuts on Nasdaq Global Select Market (Photo: VOV) |
With an equity value of over 23 billion USD, VinFast became the largest Vietnamese company listed on the US stock market by market capitalization.
Robert H. McCooey Jr, Vice Chairman of Nasdaq, said in a welcoming speech: “On behalf of the CEO and my 6,500 colleagues globally, it’s my great pleasure to welcome VinFast to the Nasdaq family. Nasdaq is truly honored to partner with you in the listing and we’re excited that you could join us here. For the first time, on “the Crossroad of the World” in Times Square, New York, as we said to ring this morning’s opening bell to celebrate the business combination with Black Spade Acquisition and for you officially becoming the member of the Nasdaq family. Again, congratulations.”
VinFast’s public listing followed the completion of the business combination with Black Spade Acquisition Co (“Black Spade”) on Tuesday.
The combined company will now operate as VinFast Auto Ltd. and continue to be led by Global CEO Le Thi Thu Thuy, who is supported by an experienced, diverse, and entrepreneurial senior management team. Black Spade will provide ongoing business advisory input for the growth of the brand and assist with direct investor engagement.
Commenting on this significant milestone, CEO Thuy said: “This is an important day for us, of course, of VinFast but not only for VinFast because the work that we’re doing is important to ensure a greener future for all through sustainable mobility. Today’s listing is both the coronation of our past achievements but more importantly, the beginning of a new chapter as a public company. With this listing, we now have access to capital to accelerate our mission to undertake our international expansion and continue to introduce new products to make EVs accessible."
VinFast said the bell-ringing event at Nasdaq on August 15 and listing in the world's largest capital market mark an important milestone in VinFast's global expansion. It does not only provide VinFast with more opportunities for future development but also leads the way for other Vietnamese brands to play an increasing role in the global economy.