Foreign auditing and business advisory services provider Grant Thornton Vietnam is eyeing the financial sector in Vietnam, with companies wanting to list or issue shares in foreign capital markets identified as its primary targets.
Ian Pascoe, partner of Grant Thornton, said in a talk last week that listing on foreign stock exchanges would become a strong trend in Vietnam soon as many Vietnamese firms wanting to access foreign funds, so the firm was pinning high hopes on this sector.
Listing on foreign countries such as the UK, Singapore Hong Kong will bring to Vietnamese firms many benefits, such as achieving a high valuation, providing easier access for investors, and getting greater liquidity, he said.
He added many big state corporations which would go to public in the near future really wanted to access large capital sources in foreign countries beside Vietnam.
Ian also pointed out that equity funds, leading corporations like Vietcombank, companies having strong potential, and good manufacturing firms would be the target customers of Grant Thornton.
Grant Thornton Vietnam is a member Grant Thornton International, which is one of the leading independent nominated advisers (Nomads) for listed transactions on AIM, under the London Stock Exchange and for small and high potential firms.
Ian explained that Nomads could pick up firms in foreign countries and decide whether die company was appropriate for admission or not and provided guidance to the firms on rules and corporate governance. “LSE makes the Nomads responsible for the company’s issues,” he added.
Grant Thornton Vietnam advised three equity funds in Vietnam to list on the AIM. They are Vietnam Opportunity Fund, Vineland, and Vietnam Holding Limited.