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Vincom Retail seeks to raise up to 16.2 trillion dong in Vietnam IPO

Vincom Retail Co. Ltd. has launched Vietnam's biggest-ever IPO valued at up to 16.2 trillion Vietnamese dong, DealStreetAsia reported, citing International Financial Review.

The issuance comprises two tranches: an institutional tranche of 380.22 million shares and a retail tranche of 19 million shares. The shares of Vingroup's shopping mall subsidiary are being offered at a price in the range of 37,000 Vietnamese dong to 40,600 dong apiece, International Financial Review reported, citing a term sheet of the deal.

Proceeds from the offering will be distributed to Vincom Retail's private equity investors and other shareholders. Vingroup did not provide an immediate comment on the IPO terms, DealStreetAsia noted.

As of Oct. 13, US$1 was equivalent to 22,719.50 Vietnamese dong.