Primary securities market heats up.

Fundraising activities through bonds and stocks have shown positive signs, especially in the stock market, where the secondary market has received a large influx of capital.

Bonds issued to the public reach record highs.

According to statistics from VIS Rating, from the beginning of 2025 to the present, the total value of bonds issued to the public has reached approximately VND 41,000 billion, the highest in many years. Recently, in early August, VietinBank decided to issue bonds to the public with a total fundraising value of up to VND 10,000 billion.

2025 is expected to be a vibrant year for public bond issuances, led by bonds from banks. On the demand side, attractive interest rates compared to savings deposits, along with a lower risk appetite, are attracting investor capital. For example, in VietinBank's fundraising plan, the floating interest rate is 1.25% higher than the average 1-year interest rate at four other banks.

Along with the surge in capital flowing into public bond issuance channels, the value of capital raised through private bond issuance also increased by 1.5 times compared to the same period. Statistics from VIS Rating show that approximately 310,000 billion VND was raised through bond issuance in the first 7 months of 2025, an increase of 58.6% compared to the same period.

The stock market is booming.

The primary stock market – where issuers offer securities to investors – is heating up, not just in the bond market. The secondary market was particularly vibrant in July, with the first trading session reaching $3 billion in liquidity, prompting many businesses to implement their long-held plans.

For the first time in nearly seven years since its listing on the stock exchange, Vietnam Oil and Gas Power Corporation - JSC (PV Power) recently revealed its plan to increase its charter capital. The roadmap has been outlined, with a shareholders' meeting scheduled for September 25th. Once officially approved by the General Shareholders' Meeting, PV Power plans to submit the application for the public offering/issuance of shares to the State Securities Commission for certification between September 26th and November 5th, 2025. The completion date for this capital increase is February 7th, 2026.

After several delays and postponements of its capital increase plan, the Development Investment Corporation of Construction (DIC Corp) is now closer to launching a public offering of shares to existing shareholders. The company has completed the issuance documents and updated and adjusted the capital utilization plan. The expected implementation period is from Q3/2025 to Q1/2026.

Several other capital raising plans are also being prepared. In the first week of August 2025, Novaland 's shareholders approved a plan to issue shares to exchange for outstanding bond debt. Accordingly, Novaland plans to issue more than 151 million shares to exchange for outstanding bond debt, at an issue price of VND 40,000 per share. Bondholders will have the right to exchange VND 40,000 of outstanding bond debt for one newly issued share and become shareholders of Novaland. In addition, the company also approved a plan to issue more than 168 million shares through a private placement to exchange for debt totaling over VND 2,645 billion; and to implement a convertible loan with a maximum limit of VND 5,000 billion.

Another real estate company, Hoang Quan Real Estate Consulting - Trading - Services Joint Stock Company, also issued shares privately to swap debt. The company's Board of Directors approved the issuance of 50 million shares to four creditors, with the largest buyers being Chairman of the Board Truong Anh Tuan and Hai Phat Investment Joint Stock Company.

Hai Phat will exchange its accounts receivable for privately issued shares of Hoang Quan Real Estate, with the market value of the shares being lower than the accounts receivable. According to Hai Phat's leadership, this plan is appropriate in the current context, as it benefits both parties: on the one hand, it helps Hoang Quan Real Estate reduce its debt burden, and on the other hand, it opens up opportunities for Hai Phat to collect outstanding debts and own shares in a promising enterprise that is investing in and developing social housing projects...

Source: https://baodautu.vn/chung-khoan-so-cap-tang-nhiet-d357345.html