With the reference price on the first trading day of VND 634,900/share, F88 is currently the enterprise with the highest listed market price on all 3 stock exchanges, opening a new chapter in the journey of standardizing governance and accessing the domestic capital market.
This event marks the first time a mortgage lending business in Vietnam has been listed and publicly traded on the stock exchange. Not only is it a big step forward in the journey of information transparency, F88's listing also opens up a new operating standard for legal pawnbroking in particular and the alternative finance industry in general - a field that has suffered from many prejudices and limitations in terms of access to capital.
Previously, on May 6, 2025, F88 was confirmed by the State Securities Commission as a public company, eligible to register for stock trading in accordance with the law.
At the time of listing, F88's charter capital was more than VND82.6 billion, equivalent to more than 8.26 million outstanding shares. The company has also been approved to issue bonus shares from the capital surplus at a rate of 1,200%, raising the expected charter capital to more than VND1,100 billion. This is an internal capital structure activity, without diluting shareholders' interests, in preparation for a new growth phase in line with the scale of operations.
“The official trading on UPCoM is not only a milestone in F88's development, but also a pioneering step, opening a new standard of transparency for the alternative finance industry in Vietnam. This is also an important step in preparing for the ability to access public capital, in order to serve larger and longer-term business plans in the future. F88 clearly identifies that participating in the capital market is not only for more transparent supervision, but also a financial motivation to help businesses expand their scale, improve operating standards and get closer to the goal of listing on HOSE in the future,” said Mr. Phung Anh Tuan, Chairman of the Board of Directors of F88.
According to a special report published by FiinGroup in June 2025, the outstanding debt of the Vietnamese pawn market in 2024 is estimated to reach VND 200 trillion, equivalent to USD 8 billion. Of which, the "new generation pawn" group such as F88 is accounting for approximately 3.2% of the market share, showing that F88's growth potential in this field is still very large.
Another special point is that while the number of traditional pawn shops is decreasing, the number of new generation pawn shops integrating technology, centralized management and diversified products is increasing rapidly.
To date, F88 operates 888 stores in 34 provinces and cities nationwide, accounting for about 70% of the total number of new-generation pawn shops nationwide. The company aims to reach 1,000 transaction points by 2026 and 2,000 stores by 2030.
In addition to secured loan products, the company also promotes the development of micro-insurance and agency banking services. Through strategic cooperation with the Military Commercial Joint Stock Bank ( MBBank ), F88 has gradually built a model of a "modern financial transaction office" providing basic services such as customer identification, deposit/withdrawal, money transfer, loan introduction, collection, payment, etc.
Along with that, F88 promotes digitalization with the MyF88 platform - a mobile application that has recorded more than 105,000 customers with online loans after only 2 months of implementation. F88 aims that by 2026, about 80% of transactions will be conducted via digital platforms to optimize operational efficiency and enhance user experience.
In 2025, F88 aims to increase revenue by 33%. After the first 6 months of the year, the company achieved revenue of VND 1,745 billion, up 30% over the same period last year. Of which, revenue from the lending segment brought in VND 1,521 billion, up 28%. Revenue from insurance business and other sources reached VND 199.6 billion and VND 6 billion, up 45% and 360% respectively thanks to expanded product coverage and effective cross-selling rates. The total disbursement value reached VND 7,146 billion, up 36% over the same period, while the net write-off ratio (net write-off debt over average outstanding debt) was maintained at 2.35%. The above results brought the company VND 321 billion in pre-tax profit, more than 3 times higher than the same period last year.
Along with a sustainable operating platform, transparent finances and a clear digitalization strategy, the company is also gradually strengthening its governance capacity, perfecting its capital structure and standardizing its operating system according to public company standards.
Officially trading on the UPCoM floor is not only a change in capital structure, but also affirms the pioneering position in building a transparent, controlled alternative financial market operating within a clear legal framework, where people can access legal, reliable and civilized financial services.
Established in 2013, F88 is a pioneer in Vietnam in the field of alternative finance, aiming to serve customers who do not have access to traditional banking services. With the mission of expanding access to legal, transparent and convenient finance for the general public, F88 has gradually built a modern financial agency model, integrating three core services: secured lending, micro-insurance and basic banking services.
During its development journey, F88 has successfully raised capital from prestigious institutional investors such as Mekong Capital, Vietnam Oman Investment and Granite Oak, helping the business expand both in terms of capital and operational capacity. By 2025, F88 will operate a network of 888 transaction points in 34 provinces and cities, becoming the unit with the largest distribution system in the alternative finance industry in Vietnam.
Up to now, F88 has affirmed its position with a series of prestigious awards at home and abroad such as: being honored as the top excellent workplace in Asia by the Great Place to Work Organization; F88 is the first enterprise in Vietnam and the only one in the alternative finance sector to receive the Gold Certificate for "Customer Protection" (Client Protection Certificate - CPC) - the world's first financial user protection standard. In April 2025, FiinRatings announced the upgrade of F88's credit rating outlook from "Stable" to "Favorable", thanks to the strong improvement in asset quality and the continuously consolidated leading position in the market.
Source: https://nhandan.vn/f88-chinh-thuc-dua-hon-826-trieu-co-phieu-vao-giao-dich-tren-he-thong-upcom-post899428.html
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