VCI LEGAL OPINIONS ON VIETNAMESE COMPANIES TRYING FOR AN OVERSEAS LISTING
In response to the news about the Vietnam’s biggest automobile manufacturer – VinFast, a subsidiary of Vingroup, preparing for an initial public offering (“IPO”) on the New York Stock Exchange to raise US $2 billion capital as well as FLC Group’s Bamboo Airways which also revealed its plan to raise up to US $200 million by IPO in the United States later in 2021, Mr. Kent Wong, Partner and Head of the Banking & Capital Markets team at VCI Legal was interviewed by Vietnam Investment Review to share his expert opinions.
Mr. Wong emphasized that “a long-term strategy of the company and timing are also key. Given the ‘new normal’, external factors and the strong macroeconomic conditions of Vietnam do not make compelling enough arguments”. Therefore, even though it is applaudable that VinFast is looking to raise capital through an alternative channel overseas, Mr. Wong was concerned whether it had objectively considered its readiness