Spun off Hoa Sen Home eyes public listing in the next 2 to 5 years

Vietnam’s Hoa Sen Home, which was recently spun off from parent company Hoa Sen Group, is looking to go public in two to five years.

In an investors’ briefing, Hoa Sen Group disclosed that the building materials and furniture supermarket chain of the conglomerate needs to fulfill initial public offering (IPO) requirements, which includes being profitable for two straight years, before it could list on the Vietnamese bourse. "One of the mandatory conditions for an IPO is that the company must demonstrate profitability for two consecutive years. Consequently, Hoa Sen Home must operate for at least two years before it can proceed with its IPO," company representatives said.

They added that at the annual general meeting of Hoa Sen Group, the board of directors already agreed to finalize the roadmap for Hoa Sen Home’s listing "if conditions are favorable and at an appropriate time".

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