Fresh off its maiden shipment of EVs to the US, the new carmaker run by Vietnam’s richest man said on Wednesday it hopes to list on the Nasdaq exchange with the ticker symbol VFS, with Citigroup, Credit Suisse and others to underwrite the deal. Nomura and BNP Paribas are also among the book-runners for the deal.

The auto unit of Vingroup, Vietnam’s biggest conglomerate by market cap, is now waiting for the Securities and Exchange Commission to declare its filing effective.

“These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective,” VinFast said. The company has not disclosed how many shares will be offered or the price range.

Its US EV prices start at US$42,000, plus a battery subscription. A Tesla Model 3 starts at US$40,000.

VinFast plans to build a car plant in the state of North Carolina and use US government subsidies for EV buyers as a selling point, but its current lineup does not qualify under the subsidies’ local-input rules.

Morgan Stanley and JP Morgan Securities also will underwrite the IPO, said VinFast, which listed HSBC, WR Securities and RBC Capital Markets as other book-runners. The company filed a draft IPO registration in April.