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Vietnam's Vingroup considering IPO or SPAC deal for car unit

Conglomerate's announcement follows news of $40bn deal by Singapore's Grab

Workers inspect a car rolling off an assembly line during the opening of the VinFast auto plant in the Vietnamese city of Haiphong in 2019.   © Reuters

HO CHI MINH CITY -- Vietnam's Vingroup says it is considering an initial public offering or a merger with a "blank check" company among options to raise money for its car unit.

The announcement, made on the Vingroup website, is confirmation that Vietnam's biggest domestically listed company is considering moves that could lead to a listing of VinFast, either directly or via a so-called special purpose acquisition company, or SPAC.

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