new-vietnam-fund-feeds-off-ipo-rush

New Vietnam fund feeds off IPO rush

Changes to taxation for new listings should boost prospects for PXPÆs third Vietnamese equities fund.
Ho Chi Minh City-based PXP Vietnam Asset Management is launching its third domestic equities product, the Vietnam Lotus Fund, in time to capitalise on an expected rush by many local companies to list on the nationÆs two bourses, which could see their combined market capitalisation rise from $3.3 billion to $5 billion by January.

Kevin Snowball, director at PXP, says when the Ho Chi Minh City Stock Trading Centre was founded in 2000, the government gave companies a two-year corporate income tax break of 50% for the first two years after listing. But the government has recently scrapped this benefit as of January 1, 2007.

ôWeÆll see a rush by companies to list before...
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