Investors are about to welcome billions of 'newbie' stocks listed on HoSE

The market is preparing to welcome a series of big "new recruits" when shares of a series of enterprises such as VPBank Securities, VPS Securities, and Masan Consumer are listed on HoSE, bringing with them more than 3.4 billion shares.

Billions of shares are about to be listed on HoSE at the end of the year - Photo: HUU HANH

More than 5 billion shares landed in the last month of the year

On December 10, more than 21.5 million VVS shares of Vietnam Machinery Development Investment Corporation (Vimid) will officially be traded on the Ho Chi Minh City Stock Exchange (HoSE), with a reference price of VND58,000/share, equivalent to a valuation of about VND1,247 billion.

The company was established in 2010, specializing in distributing medium-heavy trucks and special-purpose vehicles under the SINOTRUK brand. The company first listed its shares on UpCOM in October 2022 and submitted its application to HoSE at the end of May 2025, before being approved on November 14.

On UpCOM , VVS had been trading quietly for many years around VND20,000/share, but increased sharply to over VND61,000/share during the listing preparation process. In the last trading session on UpCOM , VVS stock price closed at VND61,100/share, 4 times higher than at the beginning of the year.

In addition to the "newbie" VVS, on December 11, nearly 1.9 billion VPX shares of VPBank Securities Company (VPBankS) will also be listed on the stock exchange with a reference price of VND33,900/share, equivalent to a capitalization of about USD2.4 billion. This is the largest initial public offering (IPO) on the stock market to date.

Thanks to Decree 245/2025 amending and supplementing a number of articles on securities, VPBanks took less than 30 days to list its shares on HoSE after IPO, significantly shortening the previous 3-6 month process.

With this valuation, VPBankS is expected to become the third largest capitalized securities company, after Techcombank Securities Company (TCBS) and SSI Securities Company (SSI).

Previously, the appearance of TCBS with a valuation of 4.1 billion USD in October brought SSI down to second place after many years of leading.

Another anticipated "blockbuster" is VPS Securities Company (code VPS), expected to be listed in December. The company has successfully completed an IPO of more than 202 million shares and was approved by HoSE to list 1.48 billion shares on December 1.

Based on the IPO price, VPS could be listed with a capitalization of VND88,000 billion (USD3.3 billion), surpassing SSI and VPBankS to take second place in the industry, after TCBS.

Counting these three companies alone, the number of shares about to be listed on HoSE is more than 3.4 billion. If including the 1.9 billion BSR shares of Binh Son Refining and Petrochemical Joint Stock Company listed on December 8, the total number of "newbie" shares exceeds 5 billion units.

A series of businesses 'lining up' to go public

In addition to the three listed companies mentioned above, HoSE also received five new applications in November, including: Masan Consumer (MCH), Regal Group (RGG), An Giang Fruits and Vegetables - Antesco (ANT), Ton Dong A (GDA) and Gia Lai Hydropower (GHC). These stocks are currently trading on UpCOM .

In the consumer-retail sector, Masan Consumer Joint Stock Company (Masan Consumer) plans to list more than 1 billion shares on HoSE by the end of this year or early next year, with a capitalization value of about 5.7 billion USD.

IPO activities continued to be vibrant when GELEX Infrastructure Joint Stock Company (GELEX Infra) was approved to issue 100 million shares and is expected to list on HoSE from early 2026.

Similarly, Hoa Phat Agricultural Development Joint Stock Company (HPA), a unit of Hoa Phat Group, has also submitted documents, expected to list in early 2026, offering a maximum of 30 million shares at a price not lower than the book value of VND11,887/share.

The IPO wave is expected to add quality goods to the stock market, diversify industries and attract new capital flows.

As of November 30, the total capitalization of Vietnam's stock market reached over 390 billion USD, equivalent to nearly 82% of the previous year's GDP.

Of which, on the HoSE floor alone, the capitalization value of listed stocks reached more than 310 billion USD, equivalent to 65% of the previous year's GDP, accounting for more than 94% of the total capitalization value of listed stocks in the whole market.

Notably, HoSE currently has 50 listed companies with a capitalization of more than 1 billion USD, including three companies with a capitalization of over 10 billion USD. Market liquidity continues to be a bright spot, with the average transaction value in the first 11 months of this year remaining at nearly 1 billion USD per session.

As of December 9, there were 693 listed securities on the HoSE floor, including 396 stocks listed on the HoSE, 22 fund certificates (including 18 ETFs) and 288 covered warrants (CW).

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Nhat Quang

Source: https://tuoitre.vn/nha-dau-tu-sap-don-hang-ti-co-phieu-tan-binh-len-san-hose-20251209180604518.htm