DEAL: Vietnam’s first
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.
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