VPBank Securities launches record $481 million IPO

VPBank Securities launches record $481 million IPO

VPBank Securities is preparing to launch Vietnam’s largest-ever securities industry initial public offering (IPO), aiming to raise nearly $481 million.

The State Securities Commission has approved the brokerage’s plan to offer 375 million shares at VND33,900 ($1.28) each, valuing VPBank Securities (VPBankS) at around $2.4 billion post-IPO. Subscriptions will open from October 10 to 31, with allocation results announced from November 1 to 2.

VPBankS will use about 68 per cent ($325.4 million) of the offering's proceeds to support margin lending, about 30 per cent ($143.8 million) for proprietary trading and investment, and the remaining 2 per cent ($9.6 million) for securities advance payments. The disbursement is scheduled from the fourth quarter of 2025 through 2026.

The IPO is expected to enhance VPBankS’s transparency and deliver greater value to shareholders, taking place against the backdrop of a vibrant stock market.

VPBankS is the only securities company within the financial ecosystem of VPBank. With its charter capital of VND15 trillion ($567.6 million), it ranks fourth in the market. In the first half of this year, the company recorded a pre-tax profit of nearly VND900 billion ($34 million), an increase of 80 per cent over the same period.

In the business plan for the 2026 – 2030 period, the securities firm is keen to join the parent bank to invest in a cryptocurrency asset trading platform. The move aims to expand the product portfolio and increase adaptability to the global market. The company has fostered collaboration with AI and blockchain companies to enhance capabilities.

In the next five years, VPBankS plans to raise the share of the stockbrokerage to 10 per cent from 2.9 per cent this year. By 2030, the company plans to earn a revenue of VND29 trillion ($1.1 billion), 11.7 times higher than last year. Pre-tax profit is estimated to reach VND17.5 trillion ($662 million), nearly 14 times higher than 2024.

VIR