F88 targets $45 million in profit, eyes HOSE listing by end of year

F88 targets $45 million in profit, eyes HOSE listing by end of year

F88 Investment JSC has set an ambitious growth plan for 2026, targeting strong profit expansion, network scaling and a transition to the Hochiminh Stock Exchange (HOSE).

F88 Investment JSC's annual general meeting on March 30. —Photo courtesy of the firm

At its annual general meeting on March 30, shareholders endorsed all key proposals, including a consolidated pre-tax profit target of over VNĐ1.1 trillion (approximately US$42 million), up 25 per cent year-on-year. 

Net outstanding loans are projected to reach VNĐ7.5 trillion, rising 33 per cent, while revenue is expected to climb 42 per cent to VNĐ5.5 trillion.

Chief Executive Officer Nguyễn Đức Đại said the company continues to prioritise sustainable growth, balancing expansion with strict risk management. He noted that organised pawn shop chains like F88 currently account for only around 3 per cent of the total market, leaving substantial room for further development.

The company’s strong 2025 performance and expanded partnerships are expected to provide momentum for 2026. Addressing concerns over global economic uncertainty, Chairman Phùng Anh Tuấn said the company’s targets had already factored in potential risks.

“In more challenging economic conditions, demand for pawn services often increases,” Tuấn said, adding that the key lies in ensuring sufficient capital and effective risk control.

F88 plans to expand its nationwide network to 1,000 transaction points this year, up from 949 at present. 

Alongside physical expansion, the firm will continue to invest in its My F88 digital platform, aiming to increase the share of online transactions and enhance customer self-service. This is expected to reduce operational pressure at physical outlets while improving overall efficiency.

In parallel, the company is preparing to transfer its listing from the UPCoM market to the HOSE, with completion targeted by the end of 2026. The board said the move would help improve liquidity, broaden access to institutional investors and strengthen transparency and corporate governance.

F88 currently meets the listing requirements, according to the management. The transition is also expected to better support its long-term growth strategy and enhance shareholder value.

To underpin its expansion plans, the company has proposed a charter capital increase of approximately VNĐ1.4 trillion through three share issuance schemes. These include a 1:1 bonus share issuance to existing shareholders using retained earnings and share premium, an employee stock ownership plan of about 4.4 million shares priced at VNĐ10,000 each, and a public offering of more than 22 million shares.

Of the three, only the public offering is expected to generate new cash inflows. Proceeds will be channelled into its core business operations via a subsidiary.

If fully implemented, F88’s charter capital will increase from VNĐ1.1 trillion to approximately VNĐ2.5 trillion, strengthening its financial capacity for the next phase of growth. 

Bizhub