Vincom Retail takes home Best Private Equity Deal in Asia-Pacific award

On November 30, Vincom Retail scored “The Best Private Equity Deal across the Asia-Pacific” award from FinanceAsia magazine due to its humongous initial public offering (IPO) raising a record $740 million in less than 30 days.

vincom retail takes home best private equity deal in asia-pacific award hinh 0
The subsidiary’s debut on the Ho Chi Minh City Stock Exchange (HoSE) was the first time for a Vietnam-based enterprise to receive one of the most prestigious awards in the field of finance.

Previously, the IPO transaction appealed over $2 billion worth of pre-market trading orders from investors, which was a threefold increase over the sale offer as well as the largest pre-market share value in the entire history of the Vietnamese stock market.

In less than a month after the IPO, Vincom Retail’s ticker (VRE) witnessed a swift increase of 20 per cent, transforming the Warburg Pincus-backed company into one of largest listed enterprises.

At the November 7 stock sale, roughly 415 million VRE shares were sold at VND40,600 ($1.79) with recorded marching orders worth more than $740 million.

Phillip Lee, former JPMorgan executive and Deutsche Bank’s vice-chairman in Southeast Asia and chief country officer in Singapore, asserted, “Vincom Retail’s IPO broke records both in its scale and the eagerness of foreign investors. In particular, global-scale businesses maintained their participation in the share  transaction even after the listing was finished.”

Lee also added, “The fact that Vincom Retail won the highest, most reputable prize of the best private equity deal across the Asia-Pacific in 2017 represented  foreign investors' exceptional interest in companies with potential and active shares, such as VRE."

In early November, Vincom Retail scheduled to list 1.9 billion shares on HoSE, making its way to break the previous largest-IPO record accomplished by Commercial Bank for Foreign Trade of Vietnam (Vietcombank) with an inundating $652 million on the first day.

Vincom Retail is Vietnam’s largest shopping mall operator under the control of leading property and retail developer Vingroup.

The subsidiary currently wields a management, operation, and rental power of 44 shopping centres across 22 cities and provinces with a total retail store area of roughly 1.2 million square metres.

The enterprise possesses various key properties, including Vincom Ba Trieu, Vincom Mega Mall Times City, and Vincom Mega Mall Royal City in Hanoi; Vincom Dong Khoi and Vincom Thu Duc in Ho Chi Minh City; as well as Vincom Ngo Quyen and Vincom Ha Long in the central city of Danang.

FinanceAsia is a Hong-Kong-based publication providing information related to Asia’s financial and capital markets published on a daily website and in a monthly magazine. Each year, the financial publication would grant the most prestigious accolades to exceptionally-performing enterprises in the financial segment, such as Best Bank in each nation, The Best Equity Deal, Best Private Bank, Southeast Asia’s Best Financial Institution, Achievement Awards, and ASEAN SME Bank of the Year.


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