At the meeting (Photo: Vingroup) VinFast, a Vingroup subsidiary that specialises in the design andproduction of electric vehicles (EVs), and Black Spade Acquisition Co.announced a merger on May 12.
The occasion represents a significant step toward VinFast'slisting on the US stock market and presents Vingroup and VinFast with newoptions for international financing.
In addition, VinFast continues to focus on the production oflaunched EV models for delivery to customers and prepares for the manufacturingof new models, which are the VF 6 and VF 7, while ramping up the progress ofsetting up a plant in North Carolina.
In 2023, the Board of Directors of Vingroup targets a net revenueof 190 trillion VND (8.1 billion USD), a gain of 87% year-on-year. If it isreached, this will be the highest net revenue since the company startedoperations. The company's profit after tax is forecast to slightly decrease by 44billion VND from last year’s figure to 2 trillion VND.
For its fund-raising plan, Vingroup expects to issue a maximum of 5trillion VND in bonds in one or many offerings. They are convertible bonds witha maximum coupon rate of 15% a year.
The term of a bond ranges from 12 months to 60 months. Vingroupwill offer private placement or public placement, depending on the actualsituation.
Last year, it raised nearly 1.1 billion USD from internationalmarkets, demonstrating the company's reputation globally.
Regarding the plan to use accumulated profit after tax as of theend of 2022, Vingroup proposes to distribute 5 billion VND to the reserve fundaccording to the provisions of the group's charter, and all accumulated profitswill be kept for operating activities./.
VNA
