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 $56.5m at admission
- One of Vietnam's largest diversified businesses and Arsenal FC's main Southeast Asia merchandise distributor
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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