VinFast Inks $1 Billion Share Sale Pact With Yorkville (2)

VinFast Auto Ltd. has agreed to sell as much as $1 billion worth of new shares to Yorkville Advisors Global over three years as the Vietnam electric vehicle maker seeks to boost the public float of its US-listed stock.

Under the pact, VinFast can ask the Mountainside, New Jersey-based investment firm to buy its shares at anytime during a period of 36 months, according to a filing on Friday. When the automaker requests Yorkville to purchase its stock, shares will be issued at 97.5% of the market price for the three trading days commencing the advance notice date.

WATCH: Le Thi Thu Thuy, CEO at VinFast, discusses the Asean EV market and her growth strategy.

Source: Bloomberg

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