Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Vietnam
  4. Ho Chi Minh Stock Exchange
  5. Vingroup Joint Stock Company
  6. News
  7. Summary
    VIC   VN000000VIC9

VINGROUP JOINT STOCK COMPANY

(VIC)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Exclusive-Vingroup tapping global investors for car unit's $1 billion funding - sources

11/30/2021 | 03:31am EST
FILE PHOTO: VinFast SUV at LA Auto Show in Los Angeles

SINGAPORE (Reuters) - Vietnam's largest conglomerate Vingroup is in talks with investors, including Qatar's sovereign fund and BlackRock, to raise about $1 billion in equity for its car unit, three sources aware of the matter said.

The fundraising exercise comes as VinFast, Vingroup's automobile arm, is betting big on the U.S. market, where it hopes that its electric SUVs and a battery leasing model will be enough to woo consumers away from the likes of Tesla and General Motors.

If successful, it is likely to end up as Vietnam's largest private fundraising, underscoring heightened investor interest in Southeast Asia, a region where ride-hailing and delivery giants Grab and GoTo have raised billions of dollars.

The fundraising move also shows electric vehicle projects remain a major draw for investors.

"Electric vehicles are the topic of the year and there's huge investor interest," said one of the sources.

Vingroup is in discussions for the fundraising ahead of VinFast's potential U.S. listing that could take place as early as next year, said the sources, who declined to be identified as negotiations are still ongoing.

They said the company could finalise the private fundraising deal as early as next month. Vingroup is also in talks with global private equity firms.

The sources said Vingroup is in advanced talks with Qatar Investment Authority (QIA), the country's $300 billion sovereign wealth fund, which has been diversifying its investments from its core European and U.S. markets towards Asia.

BlackRock is the world's largest asset manager.

Vingroup declined to comment while there was no response from QIA. BlackRock did not immediately respond to a request for comment.

VinFast plans a U.S. listing within the next couple of years, its chief executive told Reuters earlier this month, aiming to join a growing list of electric vehicle startups that have taken advantage of investor enthusiasm and raised money.

Two sources told Reuters that VinFast was sticking to a previous plan of either listing via a special purpose acquisition company (SPAC) or making a standalone listing.

VinFast, established in 2017 as part of Vingroup, plans to start producing electric cars in the United States in the second half of 2024. It unveiled two electric sport utility vehicles, VF e35 and VF e36, at the Los Angeles Auto Show this month.

(Reporting by Anshuman Daga; Additional reporting by Saeed Azhar in Dubai and Phuong Nguyen in Hanoi; Editing by Muralikumar Anantharaman)

By Anshuman Daga


ę Reuters 2021
All news about VINGROUP JOINT STOCK COMPANY
01/20VINGROUP JOINT STOCK : Winners of prestigious $4.5m global sci-tech prizes announced
PU
01/05Vietnam car maker VinFast to build U.S. battery factory as it goes all-electric
RE
01/04VinFast Announces it Will Commence A Reservation Program for its First Two EV Models &#..
CI
2021Vingroup names vice chair as CEO of its automaking arm
RE
2021Vietnam's Vingroup plans bond issue to raise $1.5 bln for automobile unit
RE
2021VINGROUP JOINT STOCK : INAUGURAL VINFUTURE PRIZE AWARD CEREMONY – CELEBRATING 4 SCIE..
PU
2021Vingroup Starts Construction on EV Battery Manufacturing Factory in the Vung Ang Econom..
CI
2021Vietnam's Masan eyes international IPO for retail unit in 2023-2024
RE
2021Vietnam car company Vingroup starts work on $174 million EV battery plant
RE
2021Vingroup plans U.S. IPO for automaking arm in late 2022
RE
More news
Analyst Recommendations on VINGROUP JOINT STOCK COMPANY
More recommendations
Financials
Sales 2021 136 471 B 6 005 M 6 005 M
Net income 2021 3 288 B 145 M 145 M
Net Debt 2021 108 332 B 4 767 M 4 767 M
P/E ratio 2021 79,9x
Yield 2021 -
Capitalization 353 500 B 15 536 M 15 554 M
EV / Sales 2021 3,38x
EV / Sales 2022 2,69x
Nbr of Employees 88 220
Free-Float 24,5%
Chart VINGROUP JOINT STOCK COMPANY
Duration : Period :
Vingroup Joint Stock Company Technical Analysis Chart | VIC | VN000000VIC9 | MarketScreener
Technical analysis trends VINGROUP JOINT STOCK COMPANY
Short TermMid-TermLong Term
TrendsBearishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 2
Last Close Price 95 500,00 VND
Average target price 116 500,00 VND
Spread / Average Target 22,0%
EPS Revisions
Managers and Directors
Quang Viet Nguyen Vice Chairman & Chief Executive Officer
Vuong Nhat Pham Chairman
Hiep Khac Le Vice Chairman
Marc Villiers Townsend Independent Director
Hang Thuy Pham Vice Chairman
Sector and Competitors
1st jan.Capi. (M$)
VINGROUP JOINT STOCK COMPANY0.42%15 536
VONOVIA SE-1.61%42 788
CHINA VANKE CO., LTD.9.51%39 107
DEUTSCHE WOHNEN SE-5.22%15 947
VINHOMES JOINT STOCK COMPANY-3.17%15 042
LEG IMMOBILIEN SE-6.11%9 508