Vietnam’s Vinfast IPO may be pushed back to 2023 on market uncertainty – executive
2022.05.11 06:56
FILE PHOTO: The Vinfast booth is seen at the 2022 New York International Auto Show, in Manhattan, New York City, U.S., April 14, 2022. REUTERS/David ‘Dee’ Delgado
HANOI (Reuters) – The chairman of Vietnam’s Vingroup conglomerate said on Wednesday that an initial public offering (IPO) for the company’s auto unit, VinFast, may be delayed until next year due to market uncertainty.
The IPO is currently slated for the fourth quarter of this year. Vingroup Chairman Pham Nhat Vuong also told the company’s annual general meeting the car maker was facing obstacles obtaining parts from China.
VinFast’s Singapore-based holding company had filed for an IPO with the U.S. securities regulators, as the company readies a $4-billion investment to build a factory in the United States.
