Vietnam Asset Management (VAM), part owned by Dubai Investment Group, plans to list its flagship fund in Singapore or London next year to raise up to $200 million, its chairman told Reuters on November 16.
The choice between the Singapore Exchange and the London Stock Exchange's Alternative Investment Market (AIM) will depend on the listing guidelines for SGX's second board, Executive Chairman John Lyn said in an interview.
"We thought SGX would come out with the criteria in September so we're still waiting," he said, adding the firm favoured a Singapore listing because the city-state was closer to Vietnam.
VAM hoped to list its Vietnam Emerging Market Fund in the first half of next year, he said. SGX said in May it planned to replace its SESDAQ board for smaller companies with a new board modelled along the lines of London's AIM market. A key element of the new SGX board will be the introduction of sponsors to ensure quality and compliance at the listed entities. SGX will unveil details of the new board later this month, an SGX spokeswoman said in response to a Reuters query.
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