Masan Consumer Holdings (stock code: MCH, UPCoM) has officially announced its resolution to transfer stock trading from UPCoM to the Ho Chi Minh City Stock Exchange (HoSE). The listing is anticipated to take place in Q4 2025 or the first half of 2026, with Vietcap Securities Corporation acting as the listing advisor.
The reference price on the first trading day will be determined based on the average of the last 30 trading sessions before MCH delists from UPCoM. As of the closing session on October 3, MCH shares were priced at VND 128,000 per share, reflecting a market capitalization of approximately VND 135 trillion (over USD 5.1 billion).
The plan to list on HoSE was approved by Masan Consumer shareholders during the 2024 Annual General Meeting.
Founded in 2000, Masan Consumer is renowned for its portfolio of food and seasoning brands, including Chin-su, Omachi instant noodles, Kokomi, Nam Ngư, and the energy drink 247.
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As of June 30, 2025, Masan Consumer is an indirect subsidiary of Masan Group (stock code: MSN), with a 66% ownership stake.
For 2025, Masan Consumer has set a revenue target of VND 33.5–35.5 trillion (a 10–15% increase) and an after-tax profit of VND 7.3–7.8 trillion.
In the first half of the year, MCH reported net revenue of VND 13,764 billion and after-tax profit of VND 2,961 billion, marking a 1% and 14% decline year-over-year, respectively.
Conversely, Vinacafe Bien Hoa (stock code: VCF, HoSE), an indirect subsidiary of Masan Consumer, is likely to delist from HoSE soon.
According to the shareholder list compiled by the Vietnam Securities Depository on July 28, 2025, Vinacafe Bien Hoa has 538 shareholders, including one major shareholder holding 98.79% of voting shares and 537 minority shareholders holding the remaining 1.21%.
This ownership structure fails to meet public company requirements, as it does not ensure that at least 10% of voting shares are held by a minimum of 100 non-major investors.
The majority shareholder, holding 98.79% of VCF’s voting shares, is Masan Beverage, a subsidiary of Masan Consumer.
Under Clause 1, Article 120 of Decree No. 155/2020/NĐ-CP dated December 31, 2020, detailing the implementation of the Securities Law, a public company’s shares will be mandatorily delisted if it loses public company status as notified by the State Securities Commission.
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