8 months ago
Vietnam EV Taxi Firm GSM Plans Hong Kong IPO
GSM is a Vietnamese company that runs electric taxis.
They want to sell shares of their company in Hong Kong to raise money.
This could happen in 2026 or 2027.
GSM uses cars made by VinFast, another company in the same group.
They are the biggest electric taxi company in Vietnam and want to grow in other countries.
The money from selling shares will help them expand and compete with other ride-hailing companies like Grab.
The exact amount of money they will raise is not clear, but it could be at least $200 million.
The plan is not final yet and could change.
GSM, a Vietnamese EV taxi operator, plans to list in Hong Kong with a $2–3 billion valuation.
The IPO is tentatively scheduled for late 2026 to early 2027, with adviser talks in Q1 2026.
GSM aims to raise at least $200 million, with the valuation including debt.
GSM operates Vietnam's largest all-electric taxi fleet and uses VinFast vehicles exclusively.
The IPO would fund GSM's regional growth and strengthen its position in Southeast Asia's competitive market.
- Who
- Green and Smart Mobility JSC (GSM), a Vietnamese electric-vehicle taxi operator
- What
- Plans to list in Hong Kong in an IPO with a valuation of $2–3 billion
- Where
- Hong Kong
- When
- Late 2026 to early 2027, with preliminary adviser talks in Q1 2026
- Why
- To fund regional growth, strengthen market position, and ease financial pressures on Vingroup and Vuong
Key facts
- Company
- Green and Smart Mobility JSC (GSM)
- Parent Company
- Vingroup
- IPO Location
- Hong Kong
- Target Valuation
- $2–3 billion
- Target Fundraising
- At least $200 million
- IPO Timeline
- Late 2026 to early 2027
- Market Share in Vietnam
- 40% (Mordor Intelligence) or 35% (Rakuten Insight)
- Primary Market Rival
- Grab
