At the VPBankS IPO investment opportunity roadshow held on October 16th in Hanoi, CEO Vũ Hữu Điền addressed the goal of achieving a 10% market share and ranking among the top lenders in the margin loan segment. He expressed confidence in the feasibility of this target.
“Over the past three years, we’ve grown from virtually zero to approximately 10% of the margin market share. In the next five years, with just a 5% increase, VPBankS can ascend to the leading group,” he stated.
Mr. Vũ Hữu Điền at the VPBankS IPO roadshow.
He attributed the growth momentum to the company’s capital advantage. VPBankS is among the top 2–3 securities firms with the largest equity capital in the market, enabling it to secure additional funding from domestic and international financial institutions. As part of the VPBank ecosystem, VPBankS can mobilize capital at lower costs, offering margin loans at more competitive rates than the market average.
Approximately 50% of the company’s margin loan portfolio is concentrated in VN30 stocks, particularly in the finance and banking sectors. Beyond capital advantages, the experienced investment team helps effectively manage risks, Mr. Điền noted.
“Margin lending is not just about capital but also expertise. We have a robust risk management system and analytical tools to determine when to expand or tighten. This system accurately reflects the risk tolerance of each portfolio,” the VPBankS leader added.
As a result, by the end of Q3 2025, VPBankS had entered the top 3 companies with the largest margin loan debt in the market. The company aims to sustain this growth to become Vietnam’s leading margin lender within the next five years.
VPBankS is the only securities firm within the VPBank ecosystem.
Regarding international expansion, VPBank CEO Nguyễn Đức Vinh emphasized that in the short term, VPBankS remains focused on the Vietnamese market, home to 100 million people with rapidly growing purchasing power and financial demand.
“Vietnam is an open, highly integrated market with exploding financial needs. This is our top priority for now. However, we are not ignoring international opportunities. With support from VPBank and SMBC, we will engage all partners related to the Vietnamese market, including foreign organizations,” shared the VPBankS representative.
He highlighted significant collaboration potential with SMBC in the securities sector. This partnership not only provides access to international capital and expertise but also helps VPBankS standardize operations to global benchmarks, gradually approaching regional markets.
“Expansion is a driving force, but we proceed step by step, ensuring stability and efficiency,” Mr. Vinh said.
According to the roadshow, VPBankS will offer 375 million shares at 33,900 VND per share, with an expected total raise of nearly 12,713 billion VND.
At this price, VPBankS is valued at approximately 63,562 billion VND (over 2.4 billion USD), making it one of the largest IPOs in Vietnam’s securities history. The raised capital will support margin loan expansion and business growth.
The subscription period runs from October 10th to 31st, 2025, with a minimum of 100 shares and a maximum of 5% of post-issuance equity. Allocation results will be announced in early November, and the shares are expected to list in December 2025.
VPBankS will self-distribute the shares and authorize three agents—Vietcap, SSI, and SHS—along with 12 supporting units for the offering.
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