Investment manager Dragon wants fund to breathe fire with London float
Investment management company Dragon Capital is planning to float its flagship fund on the London Stock Exchange.
Dragon wants Vietnam Enterprise Investments Limited (VEIL), which has a net asset value (NAV) of $850m (£587m), to list on the main market of the exchange from July.
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VEIL’s initial public offering (IPO) is set for a period when experts are expecting the slow start to 2016 to continue as next month’s EU referendum looms.
This year has so far seen a slowdown in IPO activity in the UK, across Europe and globally.
London’s flotation market is expected to see a pick-up in activity after the referendum, but experts have told City PM they do not expect much activity until the autumn.
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VEIL will hold an extraordinary general meeting (EGM) on 21 June, two days before the referendum, for approval of certain matters relating to the proposed listing.
Dragon said in a statement: “VEIL is expected to become a key vehicle for exposure to Vietnam given its size and equity-only investment mandate, appealing to both institutional and retail investors.”