Press releases 2011
Hoang Anh Gia Lai becomes first Vietnamese company to list on London Stock Exchange
- First ever issue of equity from a Vietnamese incorporated company outside Vietnam
- Company raises $60m at admission
- One of Vietnam's largest diversified businesses and Arsenal FC's main Southeast Asia merchandise distributor
Hoang Anh Gia Lai Joint Stock Company today became the first Vietnamese company to list on the London Stock Exchange. The company, which raised $60m on admission to the Exchange's Professional Securities Market ["PSM"], is also the first Vietnamese incorporated company to issue equity outside Vietnam. The company's GDRs will be traded on the London Stock Exchange's international order book, with Deutsche Bank acting as the custodian and depositary.
Tracey Pierce, Director of Equity Primary Markets at London Stock Exchange Group, said:
"We are delighted to welcome Hoang Anh Gia Lai, our first Vietnamese listing, to London. As the first ever issue of equity by a Vietnam incorporated company outside of its home market, today's float is a major win for London and a tremendous achievement for the company, which is now quoted on our markets alongside its global peers.
"The broad range of routes to market that we offer, including the PSM, which allows companies to report in domestic accounting standards, ensures that London's unrivalled pool of international capital is accessible to ambitious, high quality companies from the widest possible range of countries and sectors. Following today's successful debut, we hope that many more companies from South East Asia will follow Hoang Anh Gia Lai's lead, and pursue an international listing".
Established in 1993 as a small wooden furniture producer based in Gia Lai province, Hoang Anh Gia Lai is now one of Vietnam's largest diversified companies. As well as being one of Vietnam's largest property developers, the company is involved in forestry, minerals, rubber plantation and latex processing, with ambitions to expand its operations into other Southeast Asian countries. The company also owns the soccer club which bears its name, and is the main distributor of Arsenal FC merchandise in Southeast Asia, following an agreement signed with the English club last year.
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About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) sits at the heart of the world's financial community. The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and Turquoise, offering pan-European and US lit and dark equity trading. Through its markets, the Group offers international business unrivalled access to Europe's capital markets.
The Group is a leading developer of high performance trading platforms and capital markets software and also offers its customers around the world an extensive range of real-time and reference data products and market-leading post-trade services.
Headquartered in London, United Kingdom with significant operations in Italy and Sri Lanka, the Group employs around 1,500 people. Further information on London Stock Exchange Group can be found at http://www.londonstockexchangegroup.com/.