VinFast continues to decrease, capitalization down to 32 billion USD

Opening the official trading session on September 26 on the US Nasdaq stock exchange (September 26 evening Vietnam time), VinFast Auto (VFS) shares of billionaire Pham Nhat Vuong decreased for the 5th consecutive session.

Specifically, as of 8:30 p.m. on September 26 (Vietnam time), VFS shares decreased by 1.7% compared to the previous session to 13.7 USD/share.

At the current price, the capitalization of VinFast Auto (VFS) of billionaire Pham Nhat Vuong stands at 32.6 billion USD.

Over the past 13 sessions, VinFast shares have been on a downward trend, from 18 USD/share to below 14 USD/share. Liquidity has dropped to 2-3 million units/session, instead of 10-20 million units/session during the bustling days at the end of August.

In the session on September 25, VinFast recorded only 2.35 million units transferred.

With shares falling over the past five sessions, VinFast's capitalization has fallen to 16th in the world , behind South Korean automaker Hyundai, China's Li Auto, and Maruti Suzuki India.

Billionaire Elon Musk's Tesla, the world's largest electric car company, currently has a capitalization of 784 billion USD. China's largest electric car company BYD has a capitalization of 93 billion USD.

Investors are currently waiting to see when the US Securities and Exchange Commission (SEC) will approve VinFast's plan to register to offer more than 75 million VFS shares.

*VinFast's capitalization drops to 16th place, after Hyundai.*

On September 21, VinFast filed an application for an offering of common shares from a number of shareholders, including Black Spade’s sponsors, others related to Black Spade, and VinFast’s key shareholders: Vietnam Investment Group JSC (VIG) and Asian Star Trading & Investment (Asian Star). In total, the group will offer more than 75.7 million common shares.

This is a number of shares 17 times higher than the 4.5 million listed VFS shares (out of a total of more than 2.3 billion VFS shares in circulation).

Also according to the plan, Mr. Pham Nhat Vuong's two private investment companies, VIG and Asian Star, will put 46.29 million VinFast shares on the market, equivalent to about 2% of outstanding shares.

VinFast shares fell despite the automaker continuing to launch new models. VinFast plans to launch the VF 6 (B-segment SUV) in September.

VinFast launches a large number of shares, capitalization down to 34 billion USD VinFast shares continued to decrease for the 4th consecutive session, thereby bringing the capitalization down to the threshold of 34 billion USD. Billionaire Pham Nhat Vuong's enterprise is about to offer a large number of shares, 17 times the current number of shares in circulation.

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