Vietnam's Spotty IPO Record

Government overpricing of offerings by Vietcombank and other companies has hampered fundraising and the performance of Vietnam's stock market
A monitor flashes mainly red, representing the price of shares going down, as investors look at a stock board, 09 November 2007. The local stock market has been on a downward trend for a number of weeks. HOANG DINH NAM/AFP/Getty Images

This time a year ago Vietnam was one of the world's hottest frontier markets. Billions of dollars in foreign money were pouring into the country from hedge funds, private equity investors, and mutual funds from New York, London, Tokyo, and Hong Kong. When the Ho Chi Minh stock exchange closed for the Tet Lunar New Year holiday on Feb. 15 last year, the market was up 46%.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.