Vietnam

VPBank Finance, the consumer finance arm of state-owned Vietnam Prosperity Bank, has raised the size of its syndicated loan to $150m. The deal was initially signed at $100m late last year, with the amount now increased after more banks came in.

State-owned Vietnam National Shipping Lines is preparing to launch an IPO by the end of 2017, according to an announcement on its website.

VietJet Aviation sealed Vietnam’s largest IPO this week, pricing the D3.79tr ($167m) trade in the lower half of expectations and becoming a rare bright spot in an otherwise patchy market for stock sales.

VietJet Aviation is set to seal Vietnam’s largest domestic IPO as it heads towards the end of its management roadshow. It is giving international investors a rare opportunity to buy stock thanks to its decision to use a Reg S structure, with more privately-owned companies expected to follow suit. Jonathan Breen reports.

Low-cost airline VietJet Aviation has kicked off the roadshow for its IPO, in search of demand for a deal that could raise up to D4.4tr ($194.0m).

Philippine fast food restaurant chain Jollibee Foods Corp (JFC) is planning to float its Vietnamese unit, according to a stock exchange filing on Monday.

VietJet Air has started seeking investor interest for its potential $200m domestic IPO, according to bankers close to the deal.

Vietnamese state-owned Hanoi Beer Alcohol and Beverage Corp (Habeco) will finally start trading on the Hanoi Stock Exchange on Friday, eight years after it went public.

GlobalMarkets: Vietcombank’s stated ambition is to establish itself as the number one bank in Vietnam and one of the top 300 in the world. Very briefly, can you explain how Vietcombank will achieve this ambition?

Vietnam is one of the fastest growing economies in the emerging market universe, and an increasingly popular magnet for investors looking to establish a hub in the ASEAN region. But explosive growth is creating a number of challenges.

Vietnam’s equity capital markets is peculiar in that doing an IPO and listings are viewed as two separate events, leading to companies, particularly state-owned ones, often being in no hurry to start trading their shares on the stock exchanges. There’s no simple solution, but a shake-up of the market is well overdue.

The Vietnamese government has hired Morgan Stanley to lead a 9% divestment of its stake in Vinamilk, the country’s largest dairy company.