Vinhomes nets $1.35bn from Vietnam IPO alternative

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Vingroup spun off its real estate arm, Vinhomes, in a D30.7tr ($1.35bn) equity offering this week, stunning the market with the largest listing in Vietnam’s history and in Asia this year. The spotlight has turned to the company’s use of a novel private placement-style structure that is fast becoming popular in the country. Jonathan Breen reports.