HO CHI MINH CITY -- Vingroup aims to raise $1.5 billion through bonds as Vietnam's biggest private company bolsters its electric vehicle business with a new battery plant and a debut at a major U.S. tech conference.
The five-year dollar-denominated bonds will help finance VinFast, the auto unit that Vingroup hopes to list in the U.S. and in which it has already invested $5 billion. Vingroup will issue the international bonds in the first quarter of next year, the group said in a filing on Tuesday with the Ho Chi Minh City Stock Exchange.
