A "consumer bluechip" is about to appear on HoSE: What does MCH bring to the market?

The listing plan has been consistently shared by Masan’s Board of Directors since 2024 during the General Meeting of Shareholders and investor meetings. This shows that this is not a spur-of-the-moment decision, but a well-prepared roadmap, suitable for the new stage of the business.

The event took place at a special time for the Vietnamese stock market: IPO activities are gradually becoming more active again and Vietnam has just been upgraded to the “secondary emerging market” group by FTSE Russell. Although foreign capital flows during the year still maintained a cautious trend and had some net selling periods, the upgrade still opened up expectations for improved liquidity, market quality and the level of interest from international funds in the coming period.

In a context where the market needs more large-scale, transparent and well-run businesses to strengthen trust, MCH’s preparation to move to HOSE goes beyond the story of a single business. This is the appearance of a leading consumer stock, a bright spot at a time when the market is looking for more long-term stability.

Most of Masan Consumer's products have high coverage in both traditional and modern distribution channels.

The market needs more balance and new “goods”

The market at the end of the year is often strongly affected by fluctuations in cyclical sectors such as real estate, finance, construction materials, and public investment. Meanwhile, the essential consumer group is more stable thanks to recurring demand, less affected by short-term fluctuations, and reflects the real purchasing power of the economy .

MCH, with nearly 30 years of development, a familiar brand portfolio and coverage of 98% of Vietnamese households (According to Kantar's 2024 report), clearly represents a group of consumer businesses with a sustainable foundation. Brands such as Nam Ngu, CHIN-SU, Omachi, Kokomi or Wake-Up 247 have been associated with the lives of many generations of Vietnamese people, bringing stable consumption even in difficult market periods.

The absence of blue chips in fast-moving consumer goods (FMCG) on HoSE over the past years has caused the market structure to lean heavily towards sectors sensitive to economic cycles. In that context, MCH's announcement of its listing plan helps to add a rare dual-character stock to the market: stable enough to play a defensive role, but still maintaining clear growth potential thanks to its large scale and essential consumer demand. The appearance of MCH thus contributes to rebalancing the market, creating more harmonious choices between "stability" and "growth" for investors.

The Thai partner delegation visited for the first time the Masan PQ fish sauce fermentation space with a scale of nearly 500 fish sauce fermentation tanks.

Market Upgrade - Leverage for Consumer Bluechip Stocks

The decision to upgrade Vietnam’s stock market to the “secondary emerging” group opens up important opportunities to attract international capital flows, especially from ETFs and active funds with long-term appetites. According to FiinGroup’s assessment, this is just the beginning; for the market to truly take off, Vietnam needs more large-scale enterprises that meet transparency standards and stable operational efficiency.

In that context, the appearance of a leading consumer stock like MCH on HoSE is of important symbolic significance: a business representing the essential needs of more than 100 million people, with a stable business model and profitability among the highest in the FMCG sector.

Moving from UPCoM to HoSE also significantly expands MCH’s access to foreign investors. International funds often prioritize businesses with large enough scale, stable profits over many cycles, strong market share, recurring revenue and high transparency, criteria that MCH fully meets.

From 2017 to 2024, MCH's revenue will grow at a compound annual growth rate (CAGR) of about 10-13%, reaching about USD 1.2 billion in 2024. During this period, EBITDA margin will remain at around 26%, up more than 400 basis points compared to 2017, among the highest in Southeast Asia. Gross profit margin of over 42% and ROIC exceeding 200% (according to Masan Consumer's internal calculations) continue to demonstrate the ability to use capital efficiently, which is rare in the FMCG industry. These indicators reflect the resilience of the business model based on essential needs, making MCH a suitable candidate to attract long-term capital flows.

Looking forward to the December 4 event: strengthening market sentiment and opening up new expectations for 2025

The upcoming December 4 event is an important milestone that will help the market see more clearly the roadmap for MCH's floor transfer. When a company proactively discloses information at the end of the year, it often carries a positive message: the company is confident in its growth prospects and is ready to enter a more transparent and standardized governance phase.

For investors, this is an opportunity to access official, comprehensive information about one of the largest FMCG enterprises in the market, in the context that the consumer - retail group is forecast to be a bright spot in 2025 thanks to the recovery of domestic demand and the shift of capital flows into highly stable industries.

For the market, the December 4 event contributed to creating a positive psychological effect. When a leading enterprise decided to step up to HOSE at the right time when the market was expecting improved liquidity, industry diversification and consolidation of bluechip groups, this increased the belief that the market was moving closer to a more sustainable structure.

In the context of average income continuing to improve, the middle class expanding, modern consumer behavior gradually taking shape and Vietnam persistently aiming for a comprehensive upgrade, an FMCG enterprise with a strong foundation, stable profitability and international vision like MCH will play an increasingly important role. The December 4 event therefore not only creates a psychological boost for the end of the year, but also marks the emergence of a new fulcrum for the market, a consumer stock that is both defensive and growing, accompanying the development journey of the Vietnamese stock market in the coming years.

Masan Consumer is a member company of Masan Group (HoSE: MSN), one of the leading consumer-retail enterprises in Vietnam. With nearly three decades of serving consumers since its establishment in 1996, Masan Consumer has constantly innovated to bring quality products to meet the essential needs of millions of families. The company currently owns a diverse portfolio of FMCG products in the fields of spices, convenience foods, beverages, personal and family care, with familiar brands such as CHIN-SU, Nam Ngu, Omachi, Kokomi, and Wake-up 247. Masan Consumer's products are present in more than 98% of Vietnamese households and are exported to more than 26 countries around the world , affirming its position as one of the most profitable FMCG companies in the region.

Source: https://baodautu.vn/mot-bluechip-tieu-dung-sap-xuat-hien-tren-hose-mch-mang-dieu-gi-den-cho-thi-truong-d447981.html