Vingroup delays Image may be NSFW. Clik here to view.  The Vincom Center Ba Trieu shopping mall, operated by Vingroup Joint-Stock Co., stands in Vingroup Joint Stock Co., Vietnam’s largest shopping mall owner, is putting on hold plans to list on the Singapore Exchange Securities Trading Ltd. as foreign investors pull capital out of emerging markets. The Hanoi-based company is also delaying an international bond sale, Le Thi Thu Thuy, Vingroup’s chief executive officer, said in an interview Sept. 6. Vingroup said in April it planned to issue as many as 150 million shares and list them on the Singapore Exchange this year. “The whole market has been quite difficult, and doing a Foreign investors have sold $8.9 billion in stocks so far this year in Global Telecommunications Infrastructure Trust, the undersea cable unit of Reliance Communications Ltd. (RCOM), said in July it will delay a $1 billion share sale in Thuy didn’t rule out a listing later this year. “We still have a few more months to go,” she said. “We have to watch the market. We’ll see.” Vingroup announced in May that Warburg Pincus LLC, the private-equity owner of Neiman Marcus Group Inc., is leading a consortium to invest as much as $325 million in the company. Joseph Gagnon, a Warburg Pincus managing director, was elected to Vingroup’s board of management in June. Vingroup opened The mall’s underground area of 180,000 square meters has a retail occupancy of 95 percent, and the two above-ground levels of coffee shops, convenience stores and restaurants aimed at the complex’s apartment residents has an occupancy of nearly 50 percent, she said. Bloomberg |
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