VPS Securities JSC's valuation hits $3.4 bln as IPO price set at VND60,000 a share

VPS Securities JSC's board of directors has set the minimum price of their 202.3 million IPO shares at VND60,000 ($2.28) apiece, equivalent to a valuation of nearly $3.4 billion.

The figures were mentioned in the broker's board resolution regarding adjustments and additions to its IPO plan and the proposed use of proceeds from the offering.

At this offering price, VPS expects to raise approximately nearly VND12,139 billion ($460.56 million), most of which - nearly VND8,982 billion - will be allocated to margin lending activities.

On stock market forums and social media, the VPS IPO has generated significant investor attention. The company’s position, reputation, and sustainable growth strategy have prompted many investors to express strong interest in becoming shareholders.

A clear demonstration of this enthusiasm was seen at VPS’s event “The Next Chapter – Excellence and Distinction” held last Sunday, where the 600-seat auditorium was packed, and tens of thousands followed the event via online platforms.

During the event, VPS representatives revealed that the company’s expected trading code will be “VCK”, marking an important milestone in its journey toward becoming a leading fintech company in the region.

Earlier, last Friday, VPS had completed the issuance and transfer of 710 million bonus shares to existing shareholders, bringing its outstanding shares to 1.28 billion, equivalent to a charter capital of VND12,800 billion ($485.64 million).

In addition to the two mentioned-above capital raising initiatives, VPS plans a private placement issuance of 161.85 million shares to further raise its chartered capital.

Upon completion of all three capital-raising phases, the company’s charter capital will expand from VND5,700 billion to VND16,442 billion ($623.82 million).

For the first nine months of 2025, VPS estimates its post-tax profit at VND2,517 billion ($95.5 million), equivalent to 99.9% of its full-year 2024 tally.

VPS’s strong financial performance comes as the company continues to expand its market share.

According to the Ho Chi Minh Stock Exchange (HoSE) announcement on October 6, VPS further consolidated its No.1 position in stock brokerage market share in Q3/2025, reaching 17.05%, up 1.68 percentage points from the previous quarter - its highest market share in the past four quarters.