VinFast partners with Yorkville Advisors to acquire shares valued at $1 billion

VinFast Auto Ltd (Nasdaq stock code: VFS) recently made an exciting announcement regarding its agreement with the YA II PN (Yorkville) fund. This agreement will allow VinFast to acquire VFS shares, giving them the ability to issue up to $1 billion in VFS common shares to Yorkville. This agreement is subject to certain conditions and terms, and represents a significant opportunity for VinFast to strengthen its position in the market.

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Yorkville Advisors is an investment management firm based in the United States with over 20 years of experience in investing in publicly traded companies. The firm’s investment approach focuses on evaluating the management team, fundamental factors of the business, and stock market indicators.

Under the agreement, VinFast has the option to request Yorkville to purchase up to $1 billion worth of common shares of VFS at any time within a 36-month period.

Earlier, in April 2023, Mr. Pham Nhat Vuong announced a personal contribution of up to 24,000 billion VND (equivalent to $1 billion) to VinFast from his personal assets. In addition to Mr. Vuong’s contribution, Vingroup Corporation, which he founded, also announced a non-repayable sponsorship of up to 12,000 billion VND (equivalent to $500 million) and a loan of up to 24,000 billion VND (equivalent to $1 billion) to support VinFast’s global expansion plans.

Anh Quan (forum.autodaily.vn)

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