VPBank Securities JSC (VPBankS) has announced its initial public offering (IPO) of shares, as per the Public Offering Registration Certificate No. 322/GCN-UBCK issued by the Chairman of the State Securities Commission on September 30, 2025.
VPBankS plans to offer 375 million shares at a price of VND 33,900 per share. The shares will be distributed by the company and designated agents, including Vietcap Securities, SSI, and SHS.
Investors can register to purchase a minimum of 100 shares and a maximum of 93.7 million shares (equivalent to 5% of VPBankS’s post-offering charter capital). The registration and deposit period is from October 10 to 31, 2025.
Payment for allocated shares will be accepted from November 3 to 7, 2025. The results of the registration and share allocation will be announced from November 1 to 2, 2025.
VPBankS expects to raise over VND 12,700 billion from the IPO, valuing the company at approximately VND 63,600 billion, or nearly USD 2.4 billion.
The proceeds will be allocated as follows: 68% (over VND 8,600 billion) for margin lending, 30% (over VND 3,800 billion) for securities investment and proprietary trading, and 2% (over VND 254 billion) for securities pre-sale financing. The disbursement period is expected to span from Q4 2025 to 2026.
Upon a successful IPO, VPBankS’s charter capital will increase from VND 15,000 billion to VND 18,750 billion, with the number of outstanding shares rising from 1.5 billion to over 1.875 billion.
In terms of business performance, VPBankS recorded VND 1,885 billion in operating revenue in the first half of 2025, a 53% increase year-on-year; pre-tax profit reached VND 900 billion, up 80% compared to the same period last year.
In early September, VPBankS revised its 2025 business plan, targeting VND 7,117 billion in revenue—a 58% increase from the previous plan of VND 4,552 billion.
Consequently, the adjusted pre-tax profit for 2025 surged by 122%, from VND 2,003 billion to VND 4,450 billion, nearly quadrupling the 2024 results.
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