In today’s briefing:
- Archean Chemical Industries IPO Trading – One of the Highest Subscriptions for the Year
- Initial Thoughts on the Vinfast IPO
Archean Chemical Industries IPO Trading – One of the Highest Subscriptions for the Year
- Archean Chemical Industries (0810406D IN) has raised about US$178m in its India IPO.
- Archean Chemical Industries (ACI) is a specialty marine chemical manufacturer in India focused on producing and exporting bromine, industrial salt, and sulphate of potash to customers around the world.
- We have looked at various aspects of the deal in our previous notes. In this note, we talk about the demand for the deal and the trading dynamics.
Initial Thoughts on the Vinfast IPO
- According to Bloomberg, VinFast is getting ready for an IPO in the US as soon as 1Q 2023.
- Vinfast has secured approximately US$1.2 billion in incentives for its EV production facility in North Carolina which is expected to start production in 2024 (annual production of 150,000 vehicles).
- Vinfast could raise more than US$1 billion in this IPO. If Vinfast is able to successfully complete this IPO, it would be one of the largest Asian IPOs in 2023.
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