{"id":47946,"date":"2023-08-13T14:14:24","date_gmt":"2023-08-13T18:14:24","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/vinfast-to-list-on-nasdaq-next-week-as-vfs\/"},"modified":"2023-08-13T14:14:27","modified_gmt":"2023-08-13T18:14:27","slug":"vinfast-to-list-on-nasdaq-next-week-as-vfs","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=47946","title":{"rendered":"Vinfast to list on Nasdaq next week as ‘VFS’"},"content":{"rendered":"
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\u00a9 Reuters Vinfast to list in on Nasdaq next week as ‘VFS’<\/span>
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Special Acquisitions Company, Black Spade Acquisition <\/span><\/span> Co (NYSE:) voted Thursday to merge with electric automaker, VinFast, allowing the Vietnamese company to list on the Nasdaq platform in the US.<\/p>\n

In a joint statement with Black Spade, the automaker revealed that it would list on the Nasdaq and begin trading under the ticker symbol VFS “on or around August 15”.<\/p>\n

Vingroup’s shares on the Vietnam stock market experienced a nearly 7% increase on Friday, reaching 72,600 dong ($3.06) per share, marking a one-year peak. Meanwhile, the New York-listed shares of Black Spade surged by an impressive 73% to $18.50 on Thursday.<\/p>\n

While the SPAC merger itself will not generate additional capital for VinFast, the company’s founder, Pham Nhat Vuong, has been a strong advocate for a U.S. listing. This move aligns with VinFast’s strategic goals, as the automaker aims to enhance its presence in the U.S. market and is concurrently in the process of constructing a manufacturing facility in North Carolina.<\/p>\n

VinFast had filed for an initial public offering last December. However, a shift in strategy occurred in May when the company revealed its intentions to go public by merging with Black Spade.<\/p>\n

Similar to VinFast, several other electric vehicle manufacturers, such as Faraday Future Intelligent Electric Inc (NASDAQ:), Nikola Corp <\/span><\/span> (NASDAQ:), and Lucid Group Inc (NASDAQ:), have opted for special purpose acquisition arrangements for their listings. However, the SPAC market has more recently come under heightened scrutiny from both investors and regulatory bodies.<\/p>\n

Shares of BSAQ are down 18.27% in afternoon trading Friday.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters Vinfast to list in on Nasdaq next week as ‘VFS’ Special Acquisitions Company, Black Spade Acquisition Co (NYSE:) voted Thursday to merge with electric automaker, VinFast, allowing the Vietnamese company to list on the Nasdaq platform in the US. In a joint statement with Black Spade, the automaker revealed that it would list […]<\/p>\n","protected":false},"author":1,"featured_media":47947,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-47946","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nVinfast to list on Nasdaq next week as 'VFS' | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters Vinfast to list in on Nasdaq next week as 'VFS' Special Acquisitions Company, Black Spade Acquisition Co (NYSE:) voted Thursday to merge with\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=47946\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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