On October 1st, after receiving the Certificate of Public Offering (IPO) from the State Securities Commission (SSC), VPBankS announced the sale of 375 million shares at a price of 33,900 VND per share, totaling over 127 trillion VND—the largest in Vietnam’s securities history.
Via Facebook, VPBankS swiftly shared IPO details, with the offering period from 8 AM on October 10th to 4 PM on October 31st. Investors can purchase online through the IPO feature on the NEO Invest app/website, accessible to individuals and organizations. Additionally, direct purchases at VPBankS branches or via authorized distributors are available.
Distributors for this IPO include Vietcap Securities (VCI), SSI Securities (SSI), and Saigon-Hanoi Securities (SHS).
The Facebook post announcing the official IPO date quickly garnered significant attention.
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With proceeds of over 127 trillion VND, the company plans to allocate the funds entirely during Q4 2025–2026 for three purposes: 86 trillion VND (68%) for margin activities, 38 trillion VND (30%) for securities investment and trading, and 254 billion VND (2%) for securities prepayment activities.
This IPO, long-planned by VPBankS, has drawn substantial market interest. If successful, the company’s outstanding shares will rise from 1.5 billion to 1.875 billion, increasing its charter capital from 15 trillion VND to 18.75 trillion VND.
At the announced price of 33,900 VND per share, VPBank’s ecosystem member will be valued at nearly 636 trillion VND post-IPO, equivalent to approximately 24 billion USD (based on current exchange rates).
Furthermore, according to VPBankS, at the offering price of 33,900 VND per share and the 2025 profit forecast, the P/E ratio is 14.3 times, while the P/B ratio as of Q3 2025 is estimated at 2.5 times—both lower than market averages.
Notably, VPBankS enters the IPO phase with the advantage of inheriting extensive experience from its parent bank, VPBank. Previously, VPBank successfully executed two billion-dollar deals in Vietnam: selling 49% of FE Credit to SMBC Consumer Finance and issuing 15% of VPBank’s shares to SMBC.
Shortly before VPBankS, Technocom Securities (TCBS) set its IPO price at 46,800 VND per share, valuing the company at around 4.1 billion USD. The offering sparked frenzy, with subscriptions 2.5 times the available shares.
In related news, on September 27th, the SSC Chairman signed Decision No. 709, establishing a coordination mechanism for reviewing IPO and listing registration files simultaneously.
Under this mechanism, SSC specialized units and the Ho Chi Minh City Stock Exchange (HOSE) will jointly review financial reports, capital contribution documents, company charters, and related submissions, significantly reducing post-IPO trading timelines.
– 10:34 01/10/2025
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