Shares of the still loss-making automaker have rallied more than 333% over the past five days, reaching a valuation of roughly $190 billion

The moves followed reports that South Korea's Star Group Industrial, which supplies magnets to VinFast and Hyundai, is investing $80 million in a new factory in Vietnam

The cash-burning company is currently worth $35 billion, down from $85 billion in its Wall Street debut, that valued the carmaker twice as much as Ford and General Motors

The planned merger with Black Spade Acquisition Co will have an enterprise value of about $27 billion

Thiam's Freedom Acquisition I Corporation has parted ways with Pimco, which offloaded its stake to Next G, an affiliate of Zeng’s advisory firm China Bridge Capital

Both exchanges spent last year preparing new rules to encourage SPAC listings after seeing hundreds of such flotations in the US and worrying that Asian firms would be lured away to list in New York

On the afternoon of their first day's trading, the stock declined to HK$9.70, down 3% from the offer price of HK$10, with only one live trade during the session