BORNews -Recently, VinGroup and VinFast are promoting capital mobilization through many ways to invest in electric vehicle factories in the US.
"VinFast is moving ahead with its plans but the timing of the IPO is very much open," said the source, who spoke on condition of anonymity. "There needs to be a window to get the IPO done and it could easily take a couple of months."
According to Bloomberg, Vinfast is looking to raise between $500 million and $1 billion in convertible bonds before listing on the US stock exchange. The company and its financial advisors have been in contact with potential investors to estimate interest rates.
However, the informant said that all is still under discussion and nothing is certain. A Vinfast representative also shared with Bloomberg that Vinfast is exploring many different ways of raising capital and issuing convertible bonds is just one of them.
Currently, Vinfast is planning to invest 6 billion USD to open an electric vehicle factory in the US and the company also negotiating with potential investors to raise billions of USD.
Recently, HSBC Bank said it has cooperated with a number of other banks to provide the first green loan syndication for Vingroup and VinFast - Vingroup's member company in the field of automobile manufacturing. Green loans totaled 500 million USD.
In addition, VinFast has completed the issuance of 50 million bonds with a par value of 100,000 VND from December 27, 2021 to March 8, 2022, earning 5,000 billion VND. From November 1, 2021 to now, Vinfast has successfully mobilized 11,500 billion VND through bond issuance.
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