VinFast Auto Ltd. has filed for an initial open offering.
VinFast Auto
VFS,
is a mobility height focused on conceptualizing and prolongation electric vehicles, electric scooters and electric buses, it pronounced in a Tuesday filing with a Securities and Exchange Commission.
The company’s initial product line, that began prolongation final year, is a operation of entirely electric SUVs, it said. VinFast skeleton to sell a line of electric SUVs in North America and Europe, in further to a existent marketplace in Vietnam.
VinFast Auto didn’t divulge how many shares it skeleton to offer or a charity cost per share.
Net deduction will be used to partially or entirely repay superb share merger records and to make investments in a growth of a prolongation facilities, investigate and development, and sales and marketing. Proceeds will also be used for operative collateral and ubiquitous corporate purposes.
It intends to list a shares on a Nasdaq underneath a pitch VFS.
For a 9 months finished Sept. 30, VinFast reported $439.4 million in income and net detriment of $1.45 billion. For a year that finished Dec. 31, 2021, income was $670.6 million and net detriment was $1.35 billion, it said.
Write to Kathryn Hardison during kathryn.hardison@wsj.com
