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Vietnam’s Vinfast IPO could also be pushed again to 2023 on market uncertainty

© Reuters. FILE PHOTO: The Vinfast sales space is seen on the 2022 New York Worldwide Auto Present, in Manhattan, New York Metropolis, U.S., April 14, 2022. REUTERS/David ‘Dee’ Delgado

HANOI (Reuters) – The chairman of Vietnam’s Vingroup conglomerate stated on Wednesday that an preliminary public providing (IPO) for the corporate’s auto unit, VinFast, could also be delayed till subsequent 12 months attributable to market uncertainty.

The IPO is presently slated for the fourth quarter of this 12 months. Vingroup Chairman Pham Nhat Vuong additionally instructed the corporate’s annual normal assembly the automotive maker was going through obstacles acquiring elements from China.

VinFast’s Singapore-based holding firm had filed for an IPO with the U.S. securities regulators, as the corporate readies a $4-billion funding to construct a manufacturing facility in the US.

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