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GSM, a Vietnamese green mobility firm linked to VinFast, plans a Hong Kong IPO targeting a $3 billion valuation. The listing would be the first by a Vietnamese company in Hong Kong, highlighting Vietnam’s growing EV ecosystem and investor interest in sustainable energy and mobility solutions.
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Vietnamese mobility and green energy startup GSM, closely associated with electric vehicle maker VinFast (VFS.O), is preparing for a Hong Kong initial public offering (IPO) that could value the company at up to $3 billion, according to sources familiar with the matter.
Key Highlights
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Historic Listing: GSM’s IPO would mark the first-ever listing of a Vietnamese company in Hong Kong, underscoring the city’s appeal as a gateway for Asian capital markets.
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Valuation Target: Sources indicate GSM is aiming for a valuation between $2.5–$3 billion, reflecting investor confidence in Vietnam’s fast-growing EV and green energy ecosystem.
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VinFast Link: GSM, founded by Pham Nhat Vuong—the billionaire behind VinFast—operates electric taxis and charging infrastructure, complementing VinFast’s EV ambitions.
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Strategic Timing: The IPO comes amid rising global interest in sustainable mobility and clean energy, positioning GSM as a potential regional leader.
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Market Impact: Analysts suggest the listing could boost investor appetite for Vietnamese firms, paving the way for more cross-border capital flows.
Sources: Reuters, Bloomberg, Economic Times
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