Huy Vietnam – the private equity-backed Vietnamese quick service restaurant operator – is planning to list on the Hong Kong stock exchange.
The company, which has already attracted $65 million in investment from global investors such as AIF Capital Asia, Fortress Capital Asset Management, Welkin Capital, Prosperous Alliance and Templeton Emerging Markets Group, believes a float could raise up to $100 million to fund expansion both inside and outside Vietnam.
Huy Vietnam operates the fast-growing Mon Hue chain of restaurants offering simple and affordable Vietnamese food in a comfortable restaurant environment, and sister brands Com Express and Pho Ong Hung.
According to a report in FinanceAsia, the company will list in the spring of 2016, making it the first Vietnam-headquartered company to float in the territory.
“Huy Vietnam’s vision of serving authentic, high quality food at affordable prices, combined with its proven operating model, position it well to continue its rapid expansion,” said one of the investors, Johnny Kong, CEO of Welkin.
Less than six years old, Huy is one of Vietnam’s first international, professionally managed restaurant companies serving traditional Vietnamese food prepared from formulated family recipes. By April this year it boasted more than 70 restaurants
Huy Vietnam plans to continue opening additional Mon Hue, Com Express and Pho Ong Hung restaurants, expanding its geographical footprint into Nha Trang, Hue and Dalat.
Huy’s brands focus on different regional Vietnamese cuisines: Mon Hue on central foods, Com Express on southern Vietnamese rice cuisine and Pho Ong Hung on northern Vietnamese noodles.
Meanwhile, another Vietnamese food chain led by New Asia Partners, The KAfe, has secured a further $5.5 million series A investment from Cassia Investments and plans to list in Hong Kong and London.
“Our investors of Series A come primarily from Hong Kong and London, hence it is natural that they add value in advising us on the public listing in these two places. Both ( the investors) have experience in listing their companies. Hong Kong and London markets are also among the strongest in the world and promise a high valuation for companies which list,” The KAfe CEO Chi Anh Dao told DealStreetAsia.