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Allen & Overy advises on Vinhomes’ Ho Chi Minh Stock Exchange listing and equity offering in Vietnam’s biggest ever flotation

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Duc Tran

Partner

Ho Chi Minh City

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Stathopoulos Alexander
Alexander Stathopoulos

Partner

Singapore

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22 May 2018

Allen & Overy has advised on the landmark listing and equity offering of Vinhomes JSC’s shares on the Ho Chi Minh Stock Exchange (HOSE) which raised about USD1.3 billion in Vietnam’s biggest ever issue.

Teams from Allen & Overy’s Vietnam and Singapore offices advised Citigroup, Credit Suisse, Deutsche Bank, Morgan Stanley, HSBC, Maybank and Saigon Securities Inc. as joint bookrunners of the transaction, which comprised a secondary sale of Vinhomes’ shares to investors internationally, including a Rule 144A placement to institutional investors in the United States. Vinhomes, a subsidiary of Vingroup, is the leading integrated residential and commercial real estate development company and the largest residential developer in Vietnam.

Duc Tran, Ho Chi Minh City partner and leader of the Vietnamese aspects of the deal said "This is another record breaking transaction for Vietnam’s capital markets that, over the last year, have seen several large offerings successfully marketed to international investors."

US capital markets partner Alex Stathopoulos, who is based in Singapore and led on international aspects of the offering, said: "Vinhomes’ listing is another great example of Allen & Overy’s ability to combine Vietnamese and international expertise in a single team and better assist our clients in achieving important milestones such as this. We are very proud to have played a role in this landmark listing and of our team’s momentum, having advised on all the major Vietnamese equity offerings since the inaugural VietJet IEO in 2017."

Duc and Alex were assisted by senior associate Tina LeDinh and associates Sigfried Looho, Jeremy Teh, Minh Hoang, Hau Pham and Duong Hoang.

For further information, Please contact Nadine Gibbon at nadine.gibbon@allenovery.com, or on +852 2974 7090.