Salem Radio Network News Wednesday, January 26, 2022

Business

Vingroup sets up Singapore-based company to pave way for U.S. car unit IPO

HANOI (Reuters) – Vingroup JSC, Vietnam’s largest conglomerate, has established a Singapore-based holding company called VinFast Singapore that owns stake in Vingroup’s car unit, VinFast operation in Vietnam, the company said on Saturday.

The move is part of the company’s plan to list shares of its car unit in the United States, Vingroup said in a statement.

(Editing by Kim Coghill)

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