Vietnam’s carmaker VinFast mulls fundraising opportunities

Photo: Reuters

Vietnam’s first domestic car manufacturer, VinFast, said on Wednesday it is considering various fund raising opportunities and investments, including an equity investment via a special-purpose acquisition company (SPAC) or an IPO.

Vinfast, a unit of Vietnam’s largest conglomerate Vingroup JSC, said in a statement “any potential fundraising will be subject to different factors such as market conditions.”

The comments came after sources told Reuters on Monday that Vingroup was considering an initial public offering (IPO) in the United States for VinFast in a deal that could value the carmaker at about $60 billion.

The sources said Vingroup, a sprawling conglomerate with interests ranging from real estate to smartphones and televisions, was working with Credit Suisse Hong Kong for the potential offering on the New York Stock Exchange.

Sources said last month Taiwan’s Foxconn was in early stage talks with VinFast about partnering in electric vehicles.

Reuters

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.