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VinFast expects a higher price than Ford

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According to Bloomberg, if VinFast’s IPO is successful, it could push VinFast’s valuation up to $ 50 billion, on par with Hyundai, Honda and surpass Ford.

VinFast expects a higher price than Ford

On April 12, Bloomberg reported that Vingroup was considering bringing VinFast on the US stock exchange to raise $ 2 billion. According to this source, the car company is currently working with consulting units to IPO (initial public offering) right in the second quarter of 2021.

The source of Bloomberg confirmed that if successful, the IPO could push VinFast’s valuation up to $ 50 billion. At that time, VinFast will immediately close to the top 10 largest car manufacturers in the world, on par with famous manufacturers such as Hyundai (51.38 billion USD), Honda (50.86 billion USD) and surpass Ford (49, 47 billion USD).

With a scale of $ 2 billion, VinFast’s IPO will be the largest ever IPO of a Vietnamese company, after Vinhomes’ first share sale worth $ 1.4 billion in 2018. This could also become the first Vietnamese company to list in the US.

Although VinFast is a fledgling company, the valuation may outstrip traditional Asian carmakers like Suzuki ($ 21.29 billion) and Japan’s Nissan ($ 20.63 billion).

VinFast IPO details including the size and timing may change as discussions with the consultant are in progress. Bloomberg also said that Vingroup representatives declined to comment on this information.

The top 10 car manufacturers with the highest market capitalization are currently Tesla of the US, Toyota of Japan, Volkswagen of Germany, Daimler of Germany, General Motors (GM) of the US, BMW of Germany, BYD and Nio of China. , Stellantis and Ferrari.

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