Tesla’s Vietnam rival VinFast weighs US IPO launch in second quarter

HANOI, Jan 10 (Bloomberg): VinFast, an electric vehicle maker backed by Vietnam’s richest man, is considering launching its US initial public offering as soon as the second quarter this year, according to people familiar with the matter.

The unit of conglomerate Vingroup JSC, founded by Pham Nhat Vuong, has been working with banks including JPMorgan Chase & Co. and Citigroup Inc. on its listing plans, according to a filing in December.