Huy Vietnam cooks up country's first offshore IPO

The first-ever Vietnamese company listing abroad is likely to take place in the first quarter of 2016. Huy Vietnam is finalising its plans for a Hong Kong listing.

Vietnam is about to see its first-ever foreign listing of a company, and it won’t be in Singapore.

Huy Vietnam Group, operator of restaurant chains based in Ho Chi Minh City, is expected to file an application with Hong Kong Exchanges and Clearing for a listing this month, according to bankers and investors who spoke with FinanceAsia. The actual transaction is slated for the spring of 2016.

The company has yet to determine how many shares to sell. However, bankers familiar with the deal said the listing could raise up to $100 million. Citic CLSA is sole sponsor, and it and CIMB are joint global...

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