HANOI (Reuters) – The chairman of Vietnam’s Vingroup conglomerate said on Wednesday that an initial public offering (IPO) for the company’s auto unit, VinFast, may be delayed until next year due to market uncertainty.
The IPO is currently slated for the fourth quarter of this year. Vingroup Chairman Pham Nhat Vuong also told the company’s annual general meeting the car maker was facing obstacles obtaining parts from China.
VinFast’s Singapore-based holding company had filed for an IPO with the U.S. securities regulators, as the company readies a $4-billion investment to build a factory in the United States.
(Reporting by Phoung Nguyen; Writing by Ed Davies; Editing by Kanupriya Kapoor)