The need for speed

7 November 2017 By Clara Ferreira Marques Follow @ClaraMarquesRTR

Byzantine rules have discouraged flotations, subduing trading and deterring foreign investors. The faster, simpler structure used by Warburg Pincus for a $700 mln deal is a step towards changing that. More private equity-backed debuts could follow.

This content is for Subscribers only

To access full Breakingviews.com content you must be a subscriber. Please use the following link to request a trial.

Context News

Vincom Retail, a developer, owner and operator of malls, listed on the Ho Chi Minh City Stock Exchange on Nov. 6. Active trading begins on Nov. 9, the settlement date.

The offering is Vietnam’s largest ever, raising more than $700 million and valuing the group at about $3.4 billion. The shares priced at 40,600 dong ($1.79), the top end of the range.

Warburg Pincus fund WP Investments III, Credit Suisse and other individual shareholders sold shares. Vingroup, a major shareholder in Vincom, did not sell any shares.

Email a friend

Please complete the form below.

Required fields *