It leaves VinFast's existing shareholders, including parent company Vingroup and Vuong, Vietnam's richest man, with 99% of shares in the company.
VinFast had filed for an initial public offering on the Nasdaq last December, but in May announced plans to list through a merger with Black Spade. VinFast has shipped around 3,000 EVs to the United States from its plant in Haiphong, Vietnam. It started to deliver its first VF8 EVs in March. It has not announced U.S. sales figures.
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