Upcoming HOSE Listing: A $5 Billion Newcomer Set to Join the Market

Currently, this stock is trading on the UPCOM exchange at a market price of VND 128,000 as of the closing session on October 3rd.

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Recently, the Board of Directors of Masan Consumer Corporation (Masan Consumer, stock code: MCH) approved the decision to transfer its shares from the UPCoM market to the Ho Chi Minh City Stock Exchange (HoSE). The listing is expected to take place in Q4 2025 or the first half of 2026.

According to the resolution, the reference price on the first trading day at HoSE will be determined by the average of the last 30 trading sessions before MCH delists from UPCoM. As of the closing session on October 3, MCH stood at 128,000 VND per share, corresponding to a market capitalization of approximately 135 trillion VND (5.1 billion USD).

The plan to list MCH on HoSE was approved by Masan Consumer’s shareholders at the 2024 Annual General Meeting and officially endorsed by the Board of Directors in March 2025.

Additionally, Masan Consumer announced that October 22 will be the final registration date for shareholders to participate in the 2025 Extraordinary General Meeting via written consent. The meeting is scheduled for October or November to address matters within the Assembly’s jurisdiction.

Established in 2000, Masan Consumer initially focused on seasoning products and has since expanded into eight major consumer goods categories. Leading brands such as Chin-su, Omachi, Kokomi, Nam Ngư, and the energy drink 247 each generate annual revenues exceeding 2 trillion VND.

For 2025, Masan Consumer targets revenue between 33.5 trillion VND and 35.5 trillion VND, representing a 10-15% growth, with after-tax profit goals ranging from 7.3 trillion VND to 7.8 trillion VND. The company has outlined three core strategies: premiumization (particularly in seasonings and convenience foods), portfolio innovation (beverages, personal/household care), and global expansion (aiming for at least 20% international revenue growth, focusing on the U.S., South Korea, Japan, and the EU).

In the first half of 2025, MCH’s cumulative net revenue reached 13,764 billion VND, with after-tax profit at 2,961 billion VND, reflecting a 1% and 14% decline year-on-year, respectively.

Retail and Consumer Enterprises Gear Up for IPOs

MCH’s upcoming HoSE listing not only marks a significant milestone for the company but also signals new capital inflows into the market. Beyond MCH, the retail and consumer sectors are buzzing with IPO plans from Bach Hoa Xanh, Long Chau, and Highlands Coffee.

At The Gioi Di Dong Investment’s Q2 2025 Investor Meeting (stock code: MWG), CEO Vu Dang Linh reaffirmed the commitment to IPO Bach Hoa Xanh by 2028. He highlighted the chain’s rapid revenue growth to offset accumulated losses, alongside optimizations across production, warehousing, display, and after-sales service, aiming for a stable 4-5% profit margin.

In April 2025, DealStreetAsia reported that Highlands Coffee is reviving its IPO plans amid strong market demand. CEO David Thai emphasized that Vietnam’s stock exchange remains the top choice for the IPO.

Founder and CEO David Thai revealed that Highlands Coffee is actively collaborating with investment banks such as UBS and Jefferies to prepare for the IPO.

At FPT Retail’s shareholder meeting, CEO Hoang Trung Kien announced the successful sale of a 10% stake in Long Chau to Creador SDN Bhd. Investors anticipate that Creador’s involvement will pave the way for Long Chau’s stock market debut.

International media reports indicate that C.P Foods is accelerating the IPO process for C.P Vietnam following positive signals from regulatory authorities. Initially mentioned in 2022, the IPO plan is now gaining momentum, aiming to raise capital for expansion and increased presence in Vietnam.

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