According to individuals with inside knowledge of the situation, GSM (Green and Smart Mobility), the electric taxi operator owned by Vietnam's Vingroup, is contemplating a listing on the Hong Kong Stock Exchange. If successful, it will mark a historic milestone as the first Vietnamese company to achieve a public listing in Hong Kong. GSM has set its sights on a valuation range of US$2 billion to US$3 billion for this Hong Kong Initial Public Offering (IPO), with the anticipated listing window falling between late 2026 and early 2027. The company aims to raise a minimum of US$200 million, a figure that encompasses debt in its overall valuation. Presently, the listing strategy is still in the exploratory phase and remains subject to change or cancellation. Should GSM proceed with the listing, it will follow in the footsteps of VinFast, the electric vehicle manufacturer also under the Vingroup umbrella, which made its overseas public debut on Nasdaq in 2023. Sources indicate that GSM has already commenced preliminary discussions with potential advisors regarding the IPO and may finalize the appointment of advisors as early as the first quarter of 2026.