Vinfast signs with Yorkville Advisors an agreement to buy shares up to 1 billion USD

Accordingly, VinFast has the right to issue up to USD 1 billion of VFS common shares to Yorkville, at any time, according to the terms and conditions of the agreement.

Yorkville Advisors is an American investment management fund with more than 20 years of experience investing in listed companies. Yorkville's investment criteria focus on management teams, business fundamentals, and stock exchange indices.

VinFast car company.

Under the agreement, VinFast will have the right to require Yorkville to purchase up to US$1 billion of VFS common shares, at any time during the 36-month term of the Agreement.

“This new source of capital provides us with the flexibility and initiative to access capital to continue to expand our business globally, while improving the liquidity of our shares,” said David Mansfield, Chief Financial Officer of VinFast. “We will continue to evaluate optimal sources of capital from the international capital markets to support VinFast’s development.”

Commenting on the agreement, Mark Angelo, Founder and Chairman of Yorkville, said: "VinFast is truly one of the leading companies in the electric vehicle sector. Yorkville is excited to participate in the development and growth of VinFast. We look forward to witnessing VinFast's continued success in the electric vehicle market in the near future and we are proud to accompany VinFast in its mission for a green future."

Previously, at the end of April 2023, Mr. Pham Nhat Vuong announced a donation of up to VND 24,000 billion (equivalent to USD 1 billion) to VinFast from his personal assets. Along with Mr. Vuong, Vingroup Corporation, founded by him, also announced a non-refundable grant of up to VND 12,000 billion (equivalent to USD 500 million) and a loan of up to VND 24,000 billion (equivalent to USD 1 billion) to increase resources for VinFast's global growth goals.

PHAM DUY

Source: https://vtc.vn/vinfast-ky-voi-yorkville-advisors-thoa-thuan-mua-co-phieu-len-toi-1-ty-usd-ar828673.html