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Corporate Score 42 Bullish

Vietnam's GSM Taxi Targets 2028 Public Listing

Apr 22, 2026 03:14 UTC
Vingroup
Long term

Green & Smart Mobility JSC, owned by billionaire Pham Nhat Vuong, plans to go public in the second half of 2028. The company will initiate its pre-IPO phase within the next three months.

  • IPO scheduled for H2 2028
  • Pre-IPO phase begins in 2-3 months
  • Founder Pham Nhat Vuong holds 95% stake
  • Pham Thu Huong serves as chairwoman
  • Listing location currently undisclosed

Green & Smart Mobility JSC (GSM), the ride-hailing venture led by Vietnam's wealthiest individual, Pham Nhat Vuong, has announced plans for an initial public offering scheduled for the latter half of 2028. The announcement was made during a Vingroup JSC shareholders' meeting in Hanoi. Vuong, who serves as the chairman of Vingroup, currently maintains a 95% ownership stake in GSM, signaling tight founder control ahead of the public transition. The road to the public listing begins shortly, with the pre-IPO process expected to commence within the next two to three months. While the timeline for the offering is set, Vuong has not yet disclosed the specific exchange or jurisdiction where the IPO will take place. Governance of the business is currently led by Pham Thu Huong, the wife of Pham Nhat Vuong, who serves as the company's chairwoman. This strategic move suggests a long-term plan to monetize the ride-hailing business and potentially expand its capital base to support growth in the competitive Southeast Asian mobility sector.

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