Masan Group Corporation (HOSE:MSN) said on April 28, 2022 it was considering launching an initial public offering (IPO) for its consumer retail unit, The CrownX Joint Stock Company, in 18-24 months, aiming to double or triple its size. At its annual general meeting, Masan said it was considering all aspects for the The CrownX listing that could be on the New York Stock Exchange, or in Hong Kong, Singapore or Vietnam. “Details regarding the potential IPO, such as size, listing venue, and valuation will be subject to market conditions and the advice of our advisors,” its deputy chief executive officer, Michael Nguyen, told Reuters on the sidelines of the meeting.

“If all goes as planned, we envision coming to market 18-24 months from now at a multiple to the valuation of our last capital raising round,” Nguyen added.