Latham & Watkins and local law firm Vilaf have advised Vinhomes JSC, the residential property developer of conglomerate Vingroup JSC, on an equity issue of up to $1.4 billion, with Allen & Overy advising the underwriters.

According to Reuters, this is the country’s biggest-ever IPO, eclipsing an equity offering from Vietnam Technological and Commercial Joint Stock Bank that raised roughly $922 million recently.

Prior to the IPO, Singapore wealth fund GIC roughly took a 7 percent stake in Vinhomes for about $853 million by buying shares from Vingroup and other shareholders, according to Reuters. Latham and Vilaf also represented Vinhomes on this transaction, while YKVN acted for GIC. 

Latham has been involved in high-profile recent equity offerings in Vietnam, including the Vietnam Technological and Commercial Joint Stock Bank IPO, as well as Vincom Retail’s $740 million equity offering earlier. 

The Latham corporate team on the Vinhomes IPO was led by Hong Kong partner Amy Beckingham and Singapore partner Sharon Lau.

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