Autos

Vingroup sets up Singapore-based company to pave way for U.S. car unit IPO – Reuters


Labourers work at Vinfast auto plant on the occasion of its opening ceremony in Hai Phong city, Vietnam June 14, 2019. REUTERS/Kham/File Photo

HANOI, Dec 4 (Reuters) – Vingroup JSC (VIC.HM), Vietnam’s largest conglomerate, has established a Singapore-based holding company called VinFast Singapore that owns stake in Vingroup’s car unit, VinFast operation in Vietnam, the company said on Saturday.

The move is part of the company’s plan to list shares of its car unit in the United States, Vingroup said in a statement.

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Editing by Kim Coghill

Our Standards: The Thomson Reuters Trust Principles.



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