Securities company with largest market share reveals IPO plan

VPS plans to make an initial public offering (IPO) of up to 202.31 million shares, with a price no lower than VND22,457 per share.

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

VPS said that, almost simultaneously with listing shares on HoSE, the Company plans to conduct independent capital mobilization transactions with the participation of foreign investors.

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

The offering price has not been decided but it will not be lower than the book value according to the audited 2025 interim financial report. is 22,457 VND/share. Expected offering time is from the fourth quarter of 2025 - the first quarter of 2026.

The IPO will be offered and distributed in the form of book building directly through VPS and securities companies qualified to provide distribution agency services (including SSI, MBS, FPTS, KIS Vietnam, SHS, DNSE, OCBS). The minimum subscription amount is 100 shares/investor.

With a minimum selling price of VND22,557/share, the minimum amount VPS will collect from the IPO is VND4,543 billion. According to the capital use plan, VPS will use 74% for margin trading loans, the rest for investing in information technology infrastructure and human resource development.

Plan for using capital raised after IPO. Source: VPS

VPS will complete the registration for listing shares on HSX after the end of the offering. If the conditions are not met, VPS commits to register to trade shares on UPCoM according to regulations.

Along with this IPO plan, VPS's extraordinary general meeting of shareholders also approved other capital increase issuances, including issuing bonus shares to existing shareholders and issuing individual shares.

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

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

VPS size in successful/unsuccessful private placements

Investors selected for the private offering must be professional securities investors and have the ability to contribute to the company's development. The implementation time is in 2025 or 2026.

If all issuances are successful, VPS's charter capital will increase to VND16,441 billion, equivalent to nearly 3 times the current charter capital (VND5,700 billion).

VPS is currently the securities company with the largest securities brokerage market share on all 4 boards: HoSE, HNX, UPCoM and derivatives market, this position has been maintained by VPS continuously since 2021 up to now.

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