Milbank, Tweed, Hadley & McCloy has advised BNP Paribas, Deutsche Bank, J.P. Morgan and Viet Capital as placement agents in the initial public offering by Vietnam's leading budget airline.
Small by other Asian market parameters, the approximately $170 million offering of 44.78 million shares represents the largest Initial Public Offering (IPO) in Vietnam's history and the country's first internationally marketed going public.
A private placement of shares by VietJet's founder and chairwoman, Nguyen Thi Phuong Thao, is scheduled to be followed by a top-up subscription after listing. The listing of shares on the Ho Chi Minh City Stock Exchange is set for February 28th.
Historic IPO
Milbank, Tweed, Hadley & McCloy partner James Grandolfo led the Hong Kong-based bank team which included senior associate Kurt Sherwood and associate Ari Singzon. The transaction was supported by aviation partner Paul Ng, based in Singapore.
«We are exceptionally pleased to have advised these leading investment banks in helping VietJet take a historic step, the success of the VietJet IPO is an important milestone in the development of Vietnam's capital markets,» said Grandolfo.
