Vietnam passes new law to boost SOE sell-downs

Vietnam is giving a fillip to transparency around IPOs of state-owned companies, passing a new law that will allow firms that are being privatised to conduct a public bookbuilding. While a step in the right direction, the effect of the law is still being debated, with many problems yet to be overcome, writes Jonathan Breen.

  • By Jonathan Breen
  • 07 Dec 2017

Until now, the privatisation of state-owned enterprises (SOEs) was executed with a per share price determined by a public auction process and direct negotiations with strategic investors. Needless to say, this method has led to expensive valuations that have deterred international as well as institutional investor involvement.

That ...

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