According to informed sources, GSM, the electric taxi operator under Vietnamese conglomerate Vingroup, is planning a listing in Hong Kong, which could make it the first Vietnamese company to list there. The company, formally named Green and Smart Mobility, is targeting a valuation of $2 billion to $3 billion for its Hong Kong IPO, which could take place between late 2026 and early 2027, according to the sources. One source added that GSM aims to raise a minimum of $200 million, while another indicated that the valuation would include the company's debt. The IPO plan is still in a tentative stage and could potentially be postponed. This would mark the second overseas listing for a Vingroup company, following the Nasdaq debut of electric vehicle maker VinFast in 2023. The sources said GSM has held preliminary talks with potential advisors regarding the IPO and could appoint advisors as early as the first quarter of 2026.