DEAL: Vietnam’s first internationally-marketed IPO

Author: Brian Yap | Published: 15 Mar 2017

DEAL: Vietnam’s first internationally-marketed IPO

Vietnamese regulators have approved the country’s first internationally-marketed initial public offering, but a protracted listing process followed.

Vietjet Aviation made history last month by launching the country’s first internationally-marketed IPO priced at $167 million. Shares of the low-budget airliner were also reported to have surged by the 20% daily limit on its debut on the Ho Chi Minh City Stock Exchange.

But the deal featured long settlement periods, to which international investors aren’t accustomed to, between pricing and listing of Vietnamese IPOs.

KEY TAKEAWAYS

Vietjet Aviation has launched Vietnman’s first internationally-marketed IPO, priced at $167 million;VietJet’s three founding shareholders, including T&C Group and Housing Development Bank, successfully obtained an operating license in 2007 to become the nation’s first private airline;Investors had to be identified on the company’s shareholder registry, which was then submitted to the Hanoi Department of Planning and Investment and Vietnam Securities Depository;An escrow...


 

 

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