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With FTSE upgrade, startups are focusing their efforts on IPOs.

FTSE Russell's upgrade of the Vietnamese stock market is seen as a catalyst paving the way for a new wave of initial public offerings (IPOs), particularly from technology startups expanding globally.

Báo Đầu tưBáo Đầu tư29/12/2024

Financial transparency, operational efficiency, social responsibility, and a commitment to long-term development are the four pillars that help Meey Group build trust with investors.
Financial transparency, operational efficiency, social responsibility, and a commitment to long-term development are the four pillars that help Meey Group build trust with investors.

The "explosion" that paved the way.

“Born in Vietnam, Build for the World” is not just a slogan, but a declaration of Meey Group – a pioneering proptech company in Vietnam that is entering a crucial phase of preparing for an international IPO.

From its inception, Meey Group has identified technology and data as the core foundation determining the position of any proptech business aiming to expand globally . Its comprehensive product ecosystem, including Meey Map, Meey CRM, Meey 3D, and Meey Atlas, was developed to transparently disclose data and digitize the entire real estate value chain, from searching and valuation to management and forecasting.

Meey Group's distinguishing feature lies in its deep integration of artificial intelligence (AI) into every process, automating data processing, shortening transaction times, and enhancing the accuracy of market analysis. A strategic partnership with Amazon Web Services (AWS) further strengthens its operational stability, security, and readiness for global expansion.

If market reforms are implemented synchronously, along with the soon-to-be-established Ho Chi Minh City International Financial Center, Vietnam could witness a new wave of IPOs, where start-ups will not only seek capital but also affirm the brand position and innovation of Vietnamese businesses on the regional financial map.

To prepare for the IPO process, Meey Group spent three years on a comprehensive restructuring with PwC. Meey Group's financial statements are now close to IFRS standards, its operating systems are standardized according to ISO, ensuring transparency and readiness for international audits.

In 2024, the company achieved ISO 9001:2015 certification for quality management and ISO/IEC 27001:2013 certification for information security from BSI (UK) - two important "passports" that helped Meey Group enter the global arena.

In July 2025, Meey Group signed a strategic cooperation agreement with ARC Group – a financial advisory group that has executed nearly 50 IPO, M&A, and SPAC transactions in major markets. The partnership with ARC Group is a clear indication that Meey Group has been assessed as having sufficient capacity to expand internationally.

According to Mr. Hoang Mai Chung, Chairman of Meey Group, "Born in Vietnam, Build for the World" is the guiding principle for its globalization strategy. Vietnamese identity, rooted in a persistent entrepreneurial spirit and flexible adaptability, is the foundation for Meey Group's integration into the regional technology ecosystem.

In early October 2025, Meey Group's senior leadership team undertook two key business trips to Singapore and the United States.

Mr. Nguyen Duc Tai, Chief Financial Officer of Meey Group, shared that financial transparency, operational efficiency, social responsibility, and commitment to long-term development are the four pillars that help Meey Group build trust with investors and affirm its international competitiveness.

According to him, Meey Group's moves are not only aimed at achieving its IPO goal, but are also a long-term strategy to protect its brand and maintain its pioneering position in the proptech field.

A boost for a new wave of IPOs.

In the domestic market, FTSE Russell's official upgrade of the Vietnamese stock market from a frontier market to a secondary emerging market is not only symbolic of the openness and attractiveness of Vietnam's capital market, but could also become a major boost for the wave of IPOs by private companies and technology startups in the coming years.

According to investors, the liquidity of the Vietnamese stock market currently leads ASEAN, with an average daily trading value of over $1 billion, reflecting the depth and attractiveness of this domestic capital raising channel. The performance of the Vietnamese market over the past decade has also surpassed many major stock exchanges in Asia, demonstrating the growing confidence of international investors.

Furthermore, capital market reform policies are being accelerated, from shortening the IPO (Initial Public Offering) listing process to building a separate legal framework for startups listed on the HoSE and HNX. Simultaneously, growth and technology indices such as VNMITECH and VN50 Growth are being developed, demonstrating a long-term orientation towards encouraging capital flows into innovative businesses.

According to Ms. Nguyen Ngoc Anh, General Director of SSI Asset Management (SSIAM), out of more than 1,600 listed companies on the market, only 16 are technology companies, accounting for a mere 1%, and in the top 30 largest capitalized companies, there is only one representative:FPT . This reflects the reality that the Vietnamese stock market has not yet become an effective fundraising channel for technology companies, forcing most Vietnamese startups to register their legal entities in Singapore to easily access investors.

The Director of the Department of Startups and Technology Enterprises ( Ministry of Science and Technology ) predicts that venture capital investment in Vietnam could reach US$3 billion by 2030, with AI accounting for 70-75%. Data from Do Ventures shows that in the period of 2023-2024 alone, capital inflow into AI startups in Vietnam increased eightfold, from US$10 million to US$80 million. This signals investor confidence in the developing AI ecosystem. Therefore, a more transparent, efficient, and startup-friendly IPO market could become a crucial "pressure release valve," helping to unlock domestic capital for innovation.

In line with Resolution 57-NQ/TW on breakthroughs in national science, technology, innovation, and digital transformation, which aims for Vietnam to be among the top 3 ASEAN countries in digital competitiveness and AI R&D (Artificial Intelligence Research and Development) by 2030, and with the ambition to have 10 technology unicorns (currently only 4: VNG, MoMo, VNLife, Sky Mavis), the trend of domestic start-ups going public is being seen as a new pillar of development for the start-up ecosystem.

Source: https://baodautu.vn/nang-hang-ftse-start-up-don-luc-ipo-d423104.html


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