Vietnam's NextPay aims to raise $60-$100m in pre-IPO placement

E-payments provider looks to expand overseas such as in Indonesia and Myanmar

In Vietnam, there has been strong competition between e-payments brands such as Momo, ZaloPay, VNPAY, Payoo, ViettelPay and NexPay. © Reuters

QUYNH NGUYEN, DealStreetAsia

August 31, 2020 12:58 JST

HANOI -- Vietnamese e-payment solutions provider NextPay Holdings is considering a private placement to raise around $60-$100 million in the first quarter of next year, ahead of a planned stock market listing in 2022.

The company is looking to institutional and strategic foreign investors for the private placement and will offer them a 20% stake, Nguyen Huu Tuat, the company's co-founder and CEO, told DealStreetAsia. The company is in talks with five investors from the US, Japan and South Korea, he added.