Vietnamese electric-vehicle maker VinFast is said to be listing its shares on the Nasdaq Global Select Market during the third quarter after merging with a special purpose acquisition company (SPAC), Bloomberg reported on Friday, quoting a person familiar with the matter.

A company representative said that VinFast and Black Spade Acquisition Co will discuss and decide whether to list VinFast on the New York Stock Exchange or NASDAQ and will announce more information about the listing at the appropriate time, according to an emailed statement, the newswire reported.

Earlier in May, VinFast announced that it will list in the US by merging with SPAC Black Spade in the second half of this year. The deal, expected to be completed by July 20, would give VinFast an equity value of about $23 billion.

The Vietnam-based EV maker had prepared for a traditional IPO before the capital markets became “very challenging” during the last 18 months, which is why the company opted to merge with a SPAC, chief executive officer Le Thi Thu Thuy said in May.

Vietnam’s homegrown carmaker VinFast’s in high gear to win US & European EV markets