Warburg-Backed Vincom Retail Draws GIC to $680 Million IPO

Vincom Retail JSC, the Vietnamese mall operator backed by Warburg Pincus, has started taking investor orders for a domestic initial public offering that could raise as much as $680 million.

Existing shareholders including Warburg Pincus and Credit Suisse Group AG are offering a combined 380.2 million shares at 37,000 dong to 40,600 dong apiece, according to terms for the deal obtained by Bloomberg. Singapore sovereign fund GIC Pte and Franklin Templeton Investments are among cornerstone buyers that have agreed to purchase about $382 million of stock, or 59 percent of the base offering, assuming the deal prices at the midpoint.