CP Vietnam, Highlands Coffee, and a host of other major companies are aggressively competing to go public on the stock exchange.

With a surge in IPOs, many major companies are simultaneously launching plans to go public.

The race to go public and attract capital from the stock market is being carried out by many businesses - Photo: QUANG DINH

Many tycoons want to go public on the stock exchange; the new decree paves the way.

According to data from Dragon Capital, the IPO market (the initial public offering of shares to the public to raise capital and list on the stock exchange) is showing many positive signs.

Notably, Techcombank Securities (TCBS) is rushing to complete its listing procedures in 2025, with an expected market capitalization exceeding $4 billion, potentially becoming the largest listed securities company in Vietnam. VPBank Securities is also preparing for an IPO, expected to raise approximately $170 million, equivalent to 25% of its shares, in the coming quarters.

In the same industry, Kafi Securities has just increased its charter capital to VND 7,000 billion and plans to soon increase it to VND 15,000 billion.

Mr. Nguyen Viet Cuong, Vice Chairman of the Board of Directors, believes this is the foundation for the company to expand its scale, invest in technology, and develop products and services, aiming for sustainable value.

Accordingly, Kafi also plans to list on the UPCoM exchange in the fourth quarter of 2025, expanding opportunities to access domestic and foreign investors.

Not only securities companies, the market also expects and awaits a series of large IPOs from the infrastructure and retail sectors, including Gelex , CP Vietnam, Highlands Coffee and a number of businesses separated from the Mobile World chain.

In that context, Decree 245/2025 issued by the Government has just officially taken effect this month, with many new points supporting businesses, listing and IPO procedures are unified and less cumbersome.

The time for listing shares has been shortened from 90 days to 30 days. The requirement for a minimum 70% success rate has been abolished. The time for processing tender offers has been reduced from 15 days to 7 days.

In addition, procedures for issuing convertible shares and covered warrants have also been streamlined... This helps businesses save time, costs and makes it easier to raise capital.

Vietnamese stocks: Short-term volatility, long-term attractive.

Regarding the general market, facing profit-taking pressure, the VN-Index closed today's trading session, September 17, with a slight decrease of 0.59%, anchored at 1,670 points. The entire market had about 37,150 billion VND changed hands.

Looking at the broader picture, the Vietnamese stock market has maintained a positive trend over the past month, with the VN-Index continuously setting new peaks and at times approaching the 1,700-point mark before profit-taking pressure appeared.

In USD terms (the yield that foreign investors receive after conversion), the VN-Index increased by 11.5%, the highest since May 2020. Market liquidity also set a record, with an average daily trading value of about 1.9 billion USD and a peak session of up to 3.3 billion USD in the month.

The main driving force came from domestic capital flows, evidenced by over 250,000 new securities accounts opened. This trend partially offset the net selling pressure from foreign investors.

According to Ms. Dang Nguyet Minh, Director of Research at Dragon Capital, market momentum and liquidity remain strong, but a short-term correction is unavoidable due to profit-taking, trade fluctuations, geopolitical tensions, and exchange rate risks.

VinaCapital said the VN-Index is currently trading at a trailing P/E (stock price/earnings in one year) of 15.8 times, much lower than previous peaks, showing that there is still room for growth, but stock selection has become relatively difficult.

However, in the long term, Vietnamese stocks remain attractive thanks to the prospect of upgrading, stable economic growth and corporate profits, along with the "Doi Moi 2.0" program - promoting structural reforms, as well as the approval process of infrastructure and real estate projects.

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Source: https://tuoitre.vn/cp-viet-nam-highlands-coffee-cung-loat-dai-gia-ram-ro-cuoc-dua-len-san-chung-khoan-20250917170704845.htm