28-7-2023 (HANOI) Vietnamese electric vehicle manufacturer VinFast announced on Friday its plans to list on the United States stock market next month through a blank-cheque company, following the approval of its proposed business combination by the Securities and Exchange Commission (SEC).
VinFast, a subsidiary of Vingroup, Vietnam’s largest conglomerate, revealed in May its intentions to go public by merging with a special purpose acquisition company (SPAC) called Black Spade Acquisition Co.
Both VinFast and Black Spade are aiming to finalize the merger by August, as stated in their joint announcement.
Dennis Tam, Chairman and Co-CEO of Black Spade Acquisition Co, expressed the significance of the SEC’s declaration of effectiveness, viewing it as a crucial step towards the successful completion of the business combination with VinFast.
According to the joint statement, Black Spade has scheduled an extraordinary shareholder meeting to obtain approval for the proposed business combination with VinFast.
