VinFast witnessed a remarkable upsurge in its stock price, soaring by around 270%, subsequent to its inaugural trading session in the U.S. market.
On a recent Tuesday, the Vietnamese electric vehicle manufacturer made a successful debut on the Nasdaq exchange. This move came after the completion of its merger with Black Spade Acquisition, a special purpose acquisition company (SPAC) listed in the United States.
By the end of the Tuesday trading session, the closing value of VinFast shares settled at $37.06. This represented a substantial surge of 270% when compared to the original $10 price of Black Spade Acquisition’s initial public offering.
In light of this impressive market performance, the present estimated valuation of VinFast now stands at $85 billion, as per calculations provided by CNBC. This presents a significant increase from the earlier valuation of VinFast, which was approximately $23 billion, as determined through the SPAC merger evaluation outlined in a regulatory filing with U.S. securities authorities back in June.
In contrast, Refinitiv data indicates that BMW and Volkswagen hold valuation figures of approximately $69 billion each. Concurrently, Ford carries a valuation of $48 billion, while GM holds a valuation of $46 billion.
