VinFast's welcome gate at its factory in Hai Phong. (Photo courtesy of Vingroup)This is part of a plan to issue up to 1.5 billion USD worth of the company'sbonds, which has been approved by Vingroup's Board of Directors recently. Withthe 5-year bonds, the bondholder will be given the right to choose shares ofVinFast owned by Vingroup.
Besides paying fees and expenses for the bond issuance, the raised capital willbe invested in VinFast to develop its car production complex.
The bonds were expected to be issued in the first quarter of 2022 before beingdelayed and divided into two times.
At the end of the first quarter, Vingroup posted revenue of 18.2 trillion VND,of which VinFast's production segment contributed 3.3 trillion VND.
Previously, VinFast Trading & Investment Pte. Ltd - a subsidiary ofVingroup based in Singapore - has submitted an application for an initialpublic offering (IPO) to the US Securities and Exchange Commission (SEC).
The IPO is expected to raise about 2 billion USD. If successful, this will beone of the two largest IPOs of an Asian company on the US exchanges./.
VNA
