VietJet IPO propels Vietnam ECM into the sky

Company launches the country's first international equity offering as the government's privatisation programme also kicks into gear.
Typically tropical: VietJet's unusual marketing campaign
Typically tropical: VietJet's unusual marketing campaign

One of Vietnam’s most recognisable brands and dynamic private sector companies has launched an initial public offering that may herald a long hoped for turning point in the development of the country’s equity capital markets.

Vietnam remains one of Asia’s last major outliers when it comes to a fully functioning stock market, with progress bedeviled by a series of small, mis-priced deals that have done nothing to improve liquidity or foster good market practice.

VietJet’s $200 to $259 million IPO including the upsize option therefore carries far more symbolism that its issue size indicates. It is also coming at a time when the government is lining...

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