Vietnam has surpassed Singapore to become the leading country in Southeast Asia in raising funds from initial public offerings (IPOs), according to Bloomberg.
Vietnam is the king of the hill in raising funds from IPOs (photo: Bloomberg) |
Since early this year, with 35 IPO enterprises Vietnam has raised over US$170 million, followed by Malaysia at over US$100 million. In the meantime, Thailand, Singapore and Indonesia have posted over US$30 million each.
Funds from IPOs in Vietnam have increased rapidly while globally, companies have raised a total US$14.5 billion from IPOs in the first quarter, down 67% over the same period last year.
Vietnam has a strong IPO pipeline thanks to a large number of State-owned enterprises seeking a listing, Bloomberg stated.
According to the news service, as many as 177 Vietnamese enterprises are expected for IPOs through 2020, including Vietnam Mobile Telecom Services Co. and Vietnam National Shipping Lines.
In addition, the Hanoi Stock Exchange has been grooming companies that are not ready for listing in its regulated over-the-counter market with the number of companies expected to increase by 12% to 300 by the end of the year.