Closing IPO price at 46,800 VND/share, TCBS expects to raise more than 10,800 billion VND

TCBS’s board of directors meeting on August 5th has just approved the offering price for this anticipated IPO. If the distribution is successful, TCBS will earn approximately VND10,820 billion, focusing mainly on proprietary trading activities.

The official offering price has just been revealed, with capital expected to be focused on proprietary trading and securities brokerage activities.

Techcom Securities Joint Stock Company (TCBS) has just announced updated information about its initial public offering (IPO). Accordingly, the decision of the board of directors at the meeting on the morning of August 5 decided on the offering price of VND46,800/share. With the plan to issue 231.15 million shares, the total amount of money raised is expected to reach VND10,817.82 billion.

TCBS will allocate all capital from the IPO according to the roadmap from the third quarter of 2025 to the end of 2026, focusing on two main groups of activities. Of which, 70% of the capital, equivalent to VND 7,572 billion, will be used for securities trading activities, including investment in stocks and bonds.

The remaining 30% of the expected capital mobilized, equivalent to VND3,245 billion, is allocated to brokerage activities, margin trading and securities sales advances. The amount for margin trading is VND2,925 billion (27.04% of the total mobilized capital), and securities sales advances are VND300 billion (2.77%). The company will also invest VND20 billion (0.19%) in securities brokerage activities .

TCBS's detailed capital usage plan after IPO - Source: TCBS

According to the financial report for the second quarter of 2025, TCBS's book value is about VND14,308/share. The current offering price is 3.27 times higher than the book value per share.

Previously, TCBS officially announced its plan to offer shares to the public for the first time at the end of June 2025, but the offering price has not been announced. However, according to experts from ACBS, the price of shares traded on the OTC market is currently in the range of 40,000 - 50,000 VND.

In a recent report by VNDirect Securities, the IPO is expected to help Techcombank record a one-time financial gain on the parent bank's financial statements and/or revalue the subsidiary, thereby increasing TCB's book value in 2025. In the long term, the IPO will help TCBS strengthen its capital base and support independent growth. According to experts from VNDirect, TCB is currently working with one to two major investors to consider the possibility of selling shares before the IPO.

TCBS's IPO is expected to take place between the third quarter of 2025 and the first quarter of 2026. This is considered one of the most notable deals in the financial market this year. The leader of the parent bank Techcombank also shared that there were one or two major investors to consider the possibility of selling shares before the IPO.

According to the financial report for the second quarter of 2025, TCBS achieved a profit after tax of more than VND 1,420 billion, an increase of 9.4% over the same period last year. Most of the operating revenue segments grew. The company set a pre-tax profit target for the whole year of 2025 of VND 5,765 billion, an increase of 20% compared to 2024. With a pre-tax profit of VND 3,043 billion, this securities company has completed nearly 53% of the set target.

Many experts expect that the IPO will not only help TCBS expand its operating capital but also create opportunities to revalue assets, contribute to increasing profit margins and affirming its position in the market. At the same time, this can also become a positive driving force for Techcombank shares, in the context of the market moving towards the goal of upgrading to emerging market status.

In a report at the end of July 2025, BIDV Securities (BSC) analysts expected a target price of VND39,800/share for Techcombank's TCB shares based on the assumption that the TCBS IPO would achieve a P/B of 3 times, equivalent to a price of VND45,000/share. The surprise factor could come from a higher-than-expected public offering price, thereby creating more upside potential for the stock. TCB shares are trading at VND37,800/share, up 6.93% after the update on TCBS's IPO offering price.

Source: https://baodautu.vn/chot-gia-ipo-46800-dongco-phieu-tcbs-du-kien-huy-dong-hon-10800-ty-dong-d349921.html