HANOI, Dec 4 (Bloomberg): Vietnamese conglomerate Vingroup JSC is restructuring its automobile unit VinFast ahead of a planned US initial public offering in the second half of 2022.
Vingroup’s 51.52% stake in VinFast will be transferred to a Singapore subsidiary, the company said in an emailed statement on Saturday.
The EV maker, which aims to roll out electric SUVs in the US, Canada and Europe late next year, is working with investment banks to prepare for an IPO that would make VinFast one of the first Vietnamese companies to be traded in the US.
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