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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