A wave of major stocks to list on HCMC bourse

Following CRV shares of CRV Real Estate Group JSC, the Ho Chi Minh Stock Exchange (HoSE) is set to welcome a series of new listings, including TCBS, NTC, VPBankS, VPS, and Ton Dong A, among others.

The HoSE on Friday welcomed a new stock, CRV, a core company within the Hoang Huy Group ecosystem. Upon debut, CRV shares hit the daily upper limit at VND31,200 ($1.18) per share, ranking among the top 10 stocks with the most positive impact on the VN-Index during the session.

From now until the end of the year, the HoSE is expected to continue welcoming more newcomers, enriching its offerings to meet investor appetite, especially as Vietnam’s stock market status has just been upgraded by FTSE Russell from "frontier" to "secondary emerging".

A series of “blockbuster” IPOs are either underway or planned, many of which aim to list on the HoSE as listing requirements have already been met.

Techcom Securities JSC (TCBS) recently completed its IPO and last Thursday received the HoSE’s approval for listing. Trading will begin on October 21.

With more than 2.3 billion shares and a reference price of VND46,800 ($1.78) apiece, TCBS is valued at VND107,640 billion ($4.09 billion), surpassing SSI to become the largest listed securities company by market capitalization. This valuation also places TCBS among the top 30 most valuable stocks on the HoSE.

VPBank Securities (VPBankS) is conducting an IPO to distribute up to 375 million shares at VND33,900 ($1.29) per unit. The shares are being distributed by leading brokerage houses such as Vietcap, SHS, SSI, and VPBankS itself. The IPO is expected to conclude in November, followed by a HoSE listing in December.

VPS Securities completed issuing 710 million bonus shares last Friday, increasing its charter capital to VND12,800 billion ($485.95 million). In the next phase, the company plans to IPO 202.3 million shares and issue 161.85 million private placement shares. Upon completion, VPS also plans to list on the HoSE.

As the No.1 brokerage on the HoSE by market share and a company with strong profit growth in recent years, VPS is a highly sought-after stock, expected to set new records once it makes IPO and debuts on the exchange.

Newcomers from other sectors

Not only securities firms but also companies in other sectors are preparing to list on the HoSE.

Nam Tan Uyen Industrial Park JSC (NTC) was approved for listing by the HoSE on September 29. NTC shares are currently traded on the unlisted public companies market UPCoM, among the most expensive industrial park stocks (closing at VND164,000 or $6.23 per share last Friday).

After two years trading on the UPCoM, Ton Dong A JSC (GDA) is completing procedures to transfer its shares to the HoSE. Ton Dong A is a leading steel sheet manufacturer, ranking No.2 domestically and No.3 in exports in 2024.

Gelex Group (GEX) is preparing the IPO of Gelex Infrastructure JSC, one of its two core subsidiaries. According to Vietcap Securities, Gelex Infrastructure shares are expected to list by the end of this year.

An Giang Fruit-Vegetable & Food JSC (ANT) recently issued 3.5 million private placement shares to Ylang Holdings JSC. The company is seeking shareholder approval to transfer its ANT shares from UPCoM to HoSE.

Hoa Phat Agricultural Development JSC (HPA) - a subsidiary of Hoa Phat Group (HPG) - has filed for IPO approval with the State Securities Commission (SSC).

HPA plans to offer up to 30 million shares at a price not lower than its book value (VND11,887 or $0.45 per share). With strong performance and scale, HPA is expected to list after completing the IPO.

As Vietnam’s stock market status was upgraded, diversifying commodities is essential to attract both domestic and foreign investors.

In late September, the State Securities Commission (SSC) issued a new regulation allowing simultaneous review of both IPO registration and listing registration dossiers.

This policy is expected to shorten the listing timeline by 3-6 months compared with the current process, providing investors with quicker access to newly issued stocks and enhancing the appeal of IPOs.

For instance, TCBS managed to complete its IPO and HoSE listing within just three months (August-October) - a streamlined process that may set a new precedent for upcoming listings.