Vingroup subsidiary Vincom Retail is gearing up for what could be Vietnam’s largest-ever initial public offering (IPO).
The retail and shopping centre group is offering 380.22m shares in a deal that could be worth US$680m, according to Bloomberg.
Singapore fund GIC and Franklin Templeton Investments have reportedly agreed to purchase US$382m of the stock.
The business is backed by US private equity firm Warburg Pincus, and accounts for more than 60 per cent Vietnam’s modern retail industry.
