Vincom Retail hands on paperwork to list 1.9 billion shares on HoSE

22:35 | 28/09/2017
Vincom Retail, Vingroup’s subsidiary managing and running the Vincom shopping centre complex, has initiated procedures to list more than 1.9 billion shares with the chartered capital of VND19 trillion ($836 million) on the Ho Chi Minh City Stock Exchange (HoSE), according to information published on the HoSE website.
The operator of the Vincom retail chain will have the decade's second largest IPO

Once Vincom Retail’s proposal is approved, it will become one of the enterprises having the largest chartered capital on HoSE.

Previously, Bloomberg reported that Vincom Retail planned to conduct its initial public offering (IPO) in 2017 and expected to acquire $600 million from the deal. Once successful, it will be the country’s second largest IPO in the decade, following Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), which was selected for the government’s pilot programme for equitisation in the banking sector.

In May 2013, Warburg Pincus, a leading global private equity firm, made its first investment of $200 million in building Vincom Retail. In June 2015, Vincom Retail received a follow-on minority investment of approximately $100 million from Warburg Pincus, which nows owns a 20 per cent stake in Vincom Retail.

The investment helped Vincom Retail further accelerate building out its malls as well as Vingroup's broader retail platform, which includes VinMart, VinDS, VinFashion, and VinPro, on a national basis.

As of now, Vincom Retail owns 40 retail centres in 21 cities and provinces across the country, with the three brands Vincom Centre, Vincom Plaza, and Vincom Megamall. It is considered the largest shopping mall operator in Vietnam, with 20 malls in operation or under development. Its malls are home to more than 700 domestic and international brands.

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By By Ha Vy

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