HANOI — The chairman of Vietnam’s Vingroup conglomerate said on Wednesday that an initial public offering (IPO) for the company’s auto unit, VinFast, may be delayed until next year due to market uncertainty.
The IPO is currently slated for the fourth quarter of this year. Vingroup Chairman Pham Nhat Vuong also told the company’s annual general meeting the car maker was facing obstacles obtaining parts from China.
VinFast’s Singapore-based holding company had filed for an IPO with the U.S. securities regulators, as the company readies a $4-billion investment to build a factory in the United States. (Reporting by Phoung Nguyen Writing by Ed Davies Editing by Kanupriya Kapoor)
Financial Post Top Stories
Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.
By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300