In this offering, TCBS successfully issued 231.15 million shares, increasing its chartered capital from VND 20,802 billion to over VND 23,113 billion, and its equity to more than VND 41,000 billion (excluding retained profits from Q3).
The TCBS IPO attracted overwhelming interest, with total subscriptions reaching 575.16 million shares, 2.5 times the offered amount. Consequently, TCBS announced a 40.188% allocation ratio (Prorata).
According to TCBS, the IPO recorded over 26,000 investor registrations, including 78 institutional investors—prominent financial institutions and international funds. These institutions accounted for nearly $500 million in subscriptions, approximately 48% of the total. Notably, 90% of applications were submitted online via TCInvest’s iPO feature.
TCBS’s IPO success stems not only from its domestic leadership but also from strong international interest across continents. This has fueled positive expectations for liquidity and valuation upon listing, scheduled for Q4/2025.
Following regulatory reporting, TCBS will refund excess funds to investors shortly, confirm shareholder ownership, and finalize listing procedures. Official trading is expected to commence in October 2025.
Notably, regulatory reforms have facilitated TCBS’s listing. Decree 245/2025 reduces listing timelines to 30 days post-submission and eases foreign investment barriers.
This marks a pivotal advancement, enhancing foreign capital inflows into Vietnam’s equity market and boosting expectations for TCBS’s liquidity and market appeal post-listing.
The $10 Billion Industry Amid Foreign Giants’ Acquisition Wave
The trend of foreign investors acquiring Vietnamese packaging printing businesses is gaining momentum, and this activity is forecasted to remain vibrant in the foreseeable future.
Finance Minister Nguyen Van Thang: “I’m Quite Confident About the Upgrade Potential”
Finance Minister Nguyen Van Thang has expressed “cautious optimism” regarding Vietnam’s potential upgrade to Emerging Market status next month.
Establishing an Air Cargo Logistics Hub at the Long Thanh ‘Mega Airport’
The Vietnam Airports Corporation (ACV) has proposed to the Ministry of Finance and the Ministry of Construction the establishment of an integrated aviation logistics hub with a duty-free zone at the Long Thanh International Airport in Dong Nai province.
HSBC: Upgrading Vietnam – Hoa Phat, Vingroup, and Masan to Reap Benefits from Foreign Ownership Limit Relaxation, While Techcombank and VIB Await Their Turn.
A staggering $10.4 billion in funds is up for grabs, but can the Vietnamese stock market overcome the final two hurdles of technical prowess and foreign ownership limits to enter the big leagues?
The Stock Market Upgrade: Vietnam’s Rising Star
With just a month to go until FTSE Russell’s annual market classification review, the Ministry of Finance has released an update on the country’s stock market upgrade progress. Vietnam has implemented significant reforms, earning recognition from global institutions for its efforts.
