Today, December 7, VinFast Trading & Investment Pte. Ltd. (VinFast Singapore) announced that it has filed an application for registration under Form F-1 with the US Securities Exchange Commission (“SEC”) for an initial public offering of common shares.
Accordingly, VinFast plans to list common shares on Nasdaq Global Select Market with the code “VFS.” The number of shares to be offered and the expected price range are yet to be determined.
Previously, in November, Bloomberg reported that VinFast was considering an initial public offering (IPO) in the US in January 2023 at the earliest. Bloomberg’s unnamed source shows that the brand can raise at least $ 1 billion from this IPO, but the specific situation will depend on interest rates.
According to CompaniesMarketCap.com data on the market capitalization of the world’s top electric car companies (including only companies that manufacture cars, trucks and electric utility vehicles and are listed on the stock exchange. securities), currently there are 11 companies with market capitalization over 1 billion USD.
At the top of the list is still Tesla of the world’s richest billionaire Elon Musk, Tesla’s current market capitalization is 559 billion USD, far behind the second place is Rivian with a market capitalization of 24.6 billion USD. Tesla is also currently the 7th largest company by market capitalization worldwide, behind Apple, Saudi Aramco, Microsoft, Alphabet (Google), Amazon, Berkshire Hathaway.
Of the 32 companies on the list of CompaniesMarketCap.com, there are 18 companies from the US, 6 companies from China, 3 companies from Canada and 1 other country each.
Although there are only 6 electric car companies on the list, China occupies 4 positions in billion-dollar companies including Li Auto, NIO, XPeng and Leapmotor. Of which there are 3 companies. market capitalization over 10 billion USD, equal to the amount of the US.
In addition, Sweden also has an electric car manufacturing company with a capitalization of over 10 billion USD, Polestar with 12.8 billion USD.
Compared to 1-2 years ago, the valuation of electric car companies has decreased significantly. Tesla peaked at more than 1.1 trillion USD, Rivian reached 124 billion USD, NIO reached 97 billion USD…
Capitalization of car companies in general: