Vietnam EV maker VinFast to list in the US in Aug following regulator approval

HANOI : Vietnamese electric vehicle maker VinFast said on Friday it is planning to list in the United States next month via a blank-cheque company after the Securities and Exchange Commission (SEC) gave the go ahead to its proposed business combination.

VinFast, a unit of Vietnam’s biggest conglomerate Vingroup, announced in May it would go public through a merger with special purpose acquisition company (SPAC) Black Spade Acquisition Co.

VinFast and Black Spade targeted completion of the merger by August, they said in a joint statement.

“The declaration of the SEC effectiveness is a significant step towards the successful completion of the business combination between Black Spade and VinFast,” Dennis Tam, Chairman and Co-CEO, Black Spade Acquisition Co said.

Black Spade is slated to hold an extraordinary shareholder meeting to approve the proposed business combination with VinFast, according to the joint statement.