The first Vietnamese company to go public abroad.

According to FinanceAsia magazine, Huy Vietnam will become the first Vietnamese company to be listed on a foreign stock exchange.

According to FinanceAsia, Huy Vietnam – the company behind several popular food brands such as Mon Hue, Ong Hung, and Com Express – is expected to file for an initial public offering (IPO) on the Hong Kong Stock Exchange (HKEx) this December. The actual trading is expected to take place in the first quarter of 2016.

Citic CLSA will be the sole underwriter, while Citic CLSA and CIMB will be the two co-coordinators.

Finance Asia reports that Huy Vietnam is registered in the Cayman Islands – a location certified by HKEx. However, HKEx does not automatically recognize Vietnam as a pre-qualified domicile, therefore some companies registered in Vietnam may face difficulties in obtaining a license to list in Hong Kong.

Huy Vietnam is the company behind popular food chains such as Mon Hue, Pho Hung, Com Express, etc.

Although many Vietnamese companies, such as Vinamilk, have considered listing on foreign stock exchanges, none have succeeded so far.

Vietnamese companies are now less interested in listing their shares on the Singapore stock exchange due to the market's small size, low daily trading value (less than $400 million), and stricter regulations compared to the Hong Kong stock exchange.

Huy Vietnam is not an unfamiliar name to foreign investors. As of April 2015, the company had raised a record-high of $65 million through major investors such as Templeton Asset Management, Fortress Capital, AIF Capital, New Asia Partners, and Welken Capital.

According to VOV.VN