Vietnam’s Stock Exchange Welcomes F88’s Historic High-Priced IPO
Source: CafeF
Hanoi Stock Exchange (HNX) has announced that shares of F88 Investment Joint Stock Company (ticker: F88) will start trading on UPCoM from August 8, 2025, with a reference price of VND 634,900 per share, valuing the company at VND 5,244 billion. This sets a new record for the highest IPO price per share in Vietnam.
VNG, the Unicorn: VNZ Shares Once Reached a Seven-Figure Price
In January 2023, 36 million shares of VNG Joint Stock Company (ticker: VNZ) were listed on UpCOM, with a reference price of VND 240,000 per share, valuing the company at nearly VND 8,600 billion. During its first trading session, VNZ shares attracted strong buying interest, with a large volume of buy orders at the ceiling price, but no matches were found.
Over nearly three years of trading, VNZ’s share price has surged past the VND 1,000,000 mark, making it the most expensive stock in the market at that time. Currently, VNZ trades at VND 415,600 per share, a 73% increase from its IPO price.
Source: CafeF
Yeah1’s Impressive Debut and Subsequent Challenges
YEG shares of Yeah1 Group Joint Stock Company made a splash when they listed on Vietnam’s stock exchange on June 26, 2018, at a price of VND 250,000 per share. This marked the first time a television company listed on the Vietnamese stock market, and the IPO price was a record-breaker.
By the end of its first trading day, YEG shares had surged to VND 300,000 per share, a 20% increase. However, the company’s business performance failed to live up to expectations, and YEG shares plummeted. Currently, YEG trades at VND 13,900 per share, with a market capitalization of VND 2,700 billion.
A Tiny Enterprise with a Big IPO: The Rise and Fall of IPH
On July 3, 2019, Printing and Statistical Form Issuance Joint Stock Company listed 38,431 shares with the code IPH on UPCOM, with an IPO price of VND 411,000 per share, the highest trading price at that time. However, IPH shares plummeted 40% on their debut and often suffered from low liquidity. The share price continued to decline, eventually settling at VND 69,000 per share. In April 2022, IPH was delisted due to the company’s failure to complete the registration process as a public company.
TV2 and PAT: Six-Figure IPOs
In June 2022, PAT shares of Vietnam Apatite Phosphorus Joint Stock Company debuted on Upcom with an IPO price of VND 120,000 per share. The share price surged to VND 168,000 per share during its first trading session. After a few more bullish sessions, the share price took a downturn. Currently, PAT trades at VND 93,800 per share, an 8% decrease from its IPO price (after adjustments).
Source: CafeF
TV2 shares of Power Construction Consulting Joint Stock Company No. 2 listed on HOSE in June 2019 with an IPO price of VND 151,000 per share. TV2 shares have experienced significant volatility, even surpassing the VND 200,000 mark at one point (unadjusted price). After several adjustments due to capital increases, TV2 currently trades at VND 39,100 per share, with a market capitalization of VND 2,640 billion.
Techcombank’s Massive IPO
Looking back to 2018, Techcombank’s IPO stands out. On June 4, 2018, more than 1.16 billion TCB shares of Techcombank were listed on HOSE, with an IPO price of VND 128,000 per share, making it the most expensive bank stock at the time. With this IPO, Techcombank’s market capitalization reached VND 149,000 billion, ranking second among listed banks, just behind Vietcombank.
Fast forward to today, after several adjustments due to capital increases and market dynamics, TCB shares trade at VND 34,100 per share, a 51% increase from its IPO price (after adjustments).
Source: CafeF
Is the Investment Fund Starting to Buy Again?
During the week of July 28 to August 1, 2025, investment funds reported a cautious yet resurgent buying sentiment in their transaction results. This shift occurred amidst a backdrop of the VN-Index adjusting after a robust upward surge, breaching the historical peak established in 2022.
VietinBank Capital Divests an Additional 10.1 Million VSC Shares, Hitting a New High After Touching Bottom
VietinBank Capital continues to offload over 10 million VSC shares in a record-breaking trading session, with the transaction value estimated at a staggering 232 billion VND. Despite experiencing a market-driven dip, VSC shares swiftly rebounded, surging to new heights with two consecutive ceiling-hitting sessions.
The Market’s Expectations for a Booming IPO Scene in the Next Three Years
A host of new policies, including the Securities Law and the Law on Public Property Utilization, along with various amended laws, will come into force and be implemented in 2025. These legislative changes are set to fuel an explosive IPO market.
The Billionaire Stock Boom: Nguyễn Đăng Quang and Nguyễn Thị Phương Thảo’s Stocks Surge to Historic Highs at Year-End
As of December 30, billionaire Nguyen Thi Phuong Thao’s HDB stock holdings were valued at nearly VND 3,485 billion, marking an increase of over VND 222 billion for the day.
The Bottom-Fishers’ Cash Flow at the 1260-point Mark, VN-Index Successfully Reversed
A brisk sell-off occurred at the open of the afternoon session, sending the VN-Index to an intraday low of 1,258.65 points at 1:52 pm. Bottom-fishers emerged and actively bought stocks, lifting the market and individual stocks. Turnover rose over 33% compared to the morning session.
