Vietnamese Electric Car Maker VinFast Debuts On Nasdaq

16 Aug 2023 | Abstracted from Barrons

"Shares of VinFast, trading under the ticker "VFS," jumped more than 31 percent to $28.90 shortly after midday, after entering the market at $22 a share. Prior to its debut, VinFast had priced the shares at $11.50 apiece. The company estimates total valuation at $23 billion.

"VinFast, which is part of conglomerate Vingroup, owned by Vietnam's richest man Pham Nhat Vuong, broke ground last month on a new EV manufacturing facility in the state of North Carolina..."

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