IPO information drives 2 Vietnamese bank stocks to new peaks

VPB of VPBank and TCB of Techcombank, both listed on the Ho Chi Minh City Stock Exchange (HoSE), on Wednesday reached new peaks after information about IPOs of their subsidiaries appeared.

During the day, bank stocks continued to be the focus of attention. VPB increased at the maximum to hit VND36,550 ($1.38) per share. This has been the peak price of VPB since its listing in August 2017.

Notably, VPB has maintained its upward momentum for four consecutive sessions. The two sessions, August 19 and August 20, saw the stock price hit the ceiling. In the sessions from August 15-20, VPB went up by nearly 28%.

Analysts believe that the driving force of VPB's price increase has come from the information of VPBank Securities JSC's (VPBankS) IPO.

VPBankS recently announced a resolution of the board of directors approving the closing of the list of existing shareholders to collect written opinions. The broker has not yet announced the specific contents that require shareholders' opinions.

According to foreign media, this securities company will ask for shareholders' opinions to conduct an IPO, expected in Q4/2025.

VPBankS is a member company within the VPBank financial ecosystem. The broker was licensed by the State Securities Commission (SSC) under a license dated April 8, 2009.

Similarly, TCB shares of Techcombank had three consecutive gaining sessions (August 18, August 19, and August 20). In the Wednesday (August 20) session, this stock hit a new peak, closing up 3.32% to VND40,500 ($1.53) per share.

Techcom Securities JSC (TCBS), a subsidiary of TCB, recently announced that it had received an IPO registration certificate from the market watchdog SSC on August 15.

TCBS said the time for registration to buy and for investors to pay deposits is from August 19 to September 8, 2025. Accordingly, investors deposit an amount equal to 10% of the total registration value. The shares will be distributed through TCBS itself and two agents, SSI Securities and HSC.

TCBS will offer 231.15 million shares, equivalent to 11.11% of the total number of outstanding shares, at an offering price of VND46,800 ($1.77) a share. If successful, TCBS expects to collect nearly VND10,818 billion ($409.93 million).

The context of the stock market continuously setting new peaks with a huge cash flow has opened up opportunities to mobilize capital for securities companies as well as listed enterprises.

Taseco Land (HoSE: TAL) on Tuesday (August 19) finalized the list of shareholders to collect written opinions on issuing private placement shares to professional securities investors.

Similar to VPB and TCB, TAL shares increased sharply by 5.13% in the Wednesday (August 20) session despite a series of small and medium-cap real estate stocks falling. Since the first trading session on the HoSE (August 1), TAL has increased by more than 26%.

VN-Index on Wednesday surpassed the reference level to close the session at 1,664.36 points, equivalent to an increase of 10.16 points.

The index's increase momentum was only concentrated on a few stocks or groups of stocks. The HoSE saw 259 stocks decreasing and 83 stocks increasing.

The VN30, which tracks the prices of 30 largest-cap stocks on the HoSE, gained 18 points, with 17 stocks dropping and 12 stocks rising.

More than 2.4 billion shares changed hands on the HoSE on Wednesday, equivalent to a trading value of over VND68,000 billion ($2.58 billion).

Large-cap banks were the main driving forces pulling the market with LPB, VPB, and VIB increasing to the maximum, while SSB, TCB, CTG, and STB rose well. The pair VIC (Vingroup) and VHM (Vingroup's subsidiary Vinhomes) increased by more than 5%, creating a positive effect on the main index.

With the influence of these stocks, real estate (+2.52%) and banking (+1.24%) were the groups that increased well in the Wednesday session.

From another perspective, while the VN30 increased well, the midcap and smallcap groups decreased by 1.71% and 0.64%, respectively. Most groups of stocks decreased. The groups of telecommunications, insurance, media, technology, and natural resources all declined by over 2%.

Foreign investors net sold to the tune of nearly VND434 billion ($16.45 million) on the HoSE alone, marking a series of 10 consecutive selling sessions.

The net selling momentum of this group focused on VPB (VND536.68 billion), FPT (VND179.14 billion), CII (VND146.86 billion), and VND (VND132.91 billion).