Deals
GIC-Backed Vinhomes Is Said to Target $2 Billion in Share Sale
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Vingroup JSC, Vietnam’s biggest developer, is targeting an initial equity offering of as much as $2 billion for its luxury residential arm, people with knowledge of the matter said.
The Hanoi-based group’s Vinhomes JSC unit is considering seeking a valuation of $13 billion to $16 billion in the share sale, according to one of the people, who asked not to be identified because the information is private. Vinhomes, which began gauging demand for the offering on Tuesday, aims to finalize a list of cornerstone investors by the end of this week, the person said.