Vietnam Tycoon’s EV Arm VinFast Inks $23 Billion SPAC Deal (2)

VinFast, an electric vehicle maker founded by Vietnam’s richest person, is going public through a merger with blank-check company Black Spade Acquisition Co. in what would be the largest-ever US listing by a company from the Southeast Asian country.

The deal will give VinFast an equity value of about $23 billion, according to a statement from the parent company Vingroup JSC on Friday. Including debt, the EV maker will be valued at around $27 billion. VinFast shareholders will own approximately 99% of the combined entity after the transaction, which is expected to close in the second half of this ...