Vietnamese companies eye the U.S. IPO market amid a lull in Chinese listings

A new wave of Asian companies, including Vietnamese firms, are considering initial public offerings (IPOs) in the US. The recent US listing of Vietnam-based electric car company VinFast has opened doors for other companies in the region. This move sends a message that despite capital controls in Vietnam, companies can still pursue IPOs. Vietnamese tech unicorn VNG has also filed to list on the Nasdaq. While most Vietnamese companies are still in the early stages of considering a US IPO, the growing startup ecosystem in Vietnam and the increased availability of capital have created opportunities for companies to expand beyond the domestic market. The trend of Asian IPOs in the US is not replacing Chinese IPOs, but rather creating new opportunities. However, global IPO markets still need to recover for companies to make serious plans.