Grab’s Vietnam Rival Be Group Targets IPO as Early as 2028

Vietnam’s ride-hailing company Be Group is eyeing an initial public offering as early as 2028 as it looks to expand services while battling rivals Grab Holdings Ltd. and Green & Smart Mobility JSC, backed by the nation’s richest man.

Started in 2018, the Ho Chi Minh City-based company has moved beyond its taxi business to provide logistics, online groceries as well as insurance and financial services. It recently launched an app to provide maids for residences in a first step to enter the home services business, Be’s Chief Executive Officer Vu Hoang Yen said in an interview. She didn’t provide any more details.