The securities firm with the largest market share reveals its IPO plans.

VPS plans to offer a maximum of 202.31 million shares in its initial public offering (IPO), with a price no lower than VND 22,457 per share.

VPS Securities Joint Stock Company has just announced that it has submitted its application to the State Securities Commission (SSC) for an initial public offering (IPO) and has also submitted its application for listing on the Ho Chi Minh City Stock Exchange (HoSE).

VPS stated that, almost simultaneously with the listing of its shares on the HoSE, the company plans to conduct an independent fundraising transaction with the participation of foreign investors.

Regarding the IPO process, VPS's recent extraordinary general meeting approved a plan to offer a maximum of 202.31 million shares, equivalent to a maximum of 35.49% of the total outstanding shares at the present time, and a maximum of 15.81% of the total outstanding shares at the time of completion of the planned capital increase.

The asking price has not yet been determined, but it will not be lower than the book value as reported in the audited interim financial statements for 2025. The price is 22,457 VND per share. The offering period is expected to be from Q4/2025 to Q1/2026.

The IPO will be offered and distributed through a bookbuilding process directly by VPS and qualified securities companies acting as distribution agents (including SSI, MBS, FPTS, KIS Vietnam, SHS, DNSE, OCBS). The minimum subscription amount is 100 shares per investor.

With a minimum selling price of VND 22,557 per share, VPS will raise a minimum of VND 4,543 billion from its IPO. According to the capital utilization plan, VPS will use 74% for margin trading loans, with the remainder allocated to IT infrastructure investment and human resource development.

Plan for using the capital raised after the IPO. Source: VPS

VPS will complete the registration for listing its shares on the HSX after the offering period ends. If it fails to meet the requirements, VPS commits to registering its shares for trading on UPCoM in accordance with regulations.

Along with this IPO plan, VPS's extraordinary general meeting also approved other capital increase issuances, including the issuance of bonus shares to existing shareholders and a private placement of shares.

Regarding the plan to issue shares to increase capital from equity to existing shareholders, VPS plans to issue 710 million shares, with an exercise ratio of 1:1.2456. The shares will not be subject to transfer restrictions and are expected to be issued in the fourth quarter of this year and next year.

For the private placement option, VPS plans to offer 161.85 million shares. The offering price has not yet been determined, but it will not be lower than the market price at the time of sale or the book value.

The size of the VPS in successful/unsuccessful scenarios after a private placement.

The investors selected for the private placement must be professional securities investors and capable of contributing to the company's development. The offering is scheduled to take place in 2025 or 2026.

If all issuances are successful, VPS's charter capital will increase to VND 16,441 billion, equivalent to nearly three times its current charter capital (VND 5,700 billion).

VPS currently holds the largest market share in securities brokerage across all four exchanges: HoSE, HNX, UPCoM, and the derivatives market. VPS has maintained this position continuously since 2021.

Source: https://baodautu.vn/cong-ty-chung-khoan-co-thi-phan-lon-nhat-he-lo-ke-hoach-ipo-d398850.html