SOURCE: Warburg Pincus or prnewswire.com
HONG KONG, Feb. 1, 2018 /PRNewswire/ — Warburg Pincus-backed Vincom Retail’s $740 million IPO was awarded the “Best Private Equity Deal” in 2017 at the annual Achievement Awards dinner of FinanceAsia in Hong Kong on January 31, 2018, to recognize exceptionally talented individuals and companies in the capital markets across Asia Pacific.
Vincom Retail (HOSE: VRE, “the Company”), the largest retail property developer, owner and operator in Vietnam, was listed on the Ho Chi Minh City Stock Exchange on November 6, 2017. The offering raised an equivalent of over US$740 million for the existing shareholders, making it the country’s largest ever initial equity offering (IEO). It is also the first Vietnamese shopping mall developer and operator to list its stock.
Vincom Retail was first established as a joint venture between Vingroup, the country’s largest private sector company traded on the Ho Chi Minh City Stock Exchange, and Warburg Pincus, a leading global private equity firm focused on growth investing. Since 2013, the Warburg Pincus-led consortium has invested $300 million into Vincom Retail and still holds shares in the company to support Vietnam’s fastest-growing retail operator.
The Vincom Retail offering was advised by Citi, Credit Suisse, Deutsche Bank, SSI and Latham & Watkins.
Jeffrey Perlman, Managing Director and Head of Southeast Asia of Warburg Pincus, said, “We are truly honored to be granted this award by one of Asia’s most prestigious publications to recognize our landmark investment and IPO of Vincom Retail. As one of the largest and most active private equity investors in Southeast Asia, Warburg Pincus will continue to seek out best-in-class entrepreneurs with the goal of helping to build leading companies across the region.”
FinanceAsia was founded in 1996 and its website, magazine and events cover emerging investment trends and corporate finance across the region.
“We are honoured to host the region’s financial and business elite,” Alison Tudor-Ackroyd, Managing Editor of FinanceAsia, said on stage at the dinner. “For over two decades, FinanceAsia has analysed Asian capital markets for an audience of investors hungry to capture their part of the region’s growth story. The winners tonight created long-lasting value for their shareholders.”
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $44 billion in private equity assets under management. The firm’s active portfolio of more than 150 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 17 private equity funds which have invested more than $60 billion in over 800 companies in more than 40 countries.
The firm started investing in Southeast Asia in 2013 with Vietnam as its maiden market. Since then, Warburg Pincus has committed over $1 billion in the region, including in ARA Asset Management, GO-JEK, NWP, Trax, Vincom Retail and others.
SOURCE Warburg Pincus
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