HANOI, July 28 (Reuters) - Vietnamese electric vehicle maker VinFast said on Friday it is planning to list in the United States next month via a blank-cheque company after the Securities and Exchange Commission (SEC) gave the go ahead to its proposed business combination.
VinFast, a unit of Vietnam's biggest conglomerate Vingroup (VIC.HM), announced in May it would go public through a merger with special purpose acquisition company (SPAC) Black Spade Acquisition Co (BSAQ.A).
VinFast and Black Spade aim to complete the merger by August, they said in a joint statement.
"The declaration of the SEC effectiveness is a significant step towards the successful completion of the business combination between Black Spade and VinFast," Dennis Tam, Chairman and Co-CEO of Black Spade Acquisition Co said.
Black Spade is set to hold an extraordinary shareholder meeting to approve the proposed business combination with VinFast, the joint statement said.
Persons:
VinFast, Black Spade, Dennis Tam, Phuong Nguyen, Louise Heavens
Organizations:
Securities and Exchange Commission, SEC, Spade, Thomson
Locations:
HANOI, United States