HoSE's new wave of listings brings $6.3 billion in fresh market value

HoSE's new wave of listings brings $6.3 billion in fresh market value

From July 14 to August 18, Vietbank (VBB), BVBank (BVB), Dien May Xanh (DMX) and LPBank Securities (LPS) made their HoSE debuts, either following initial public offerings or transfers from the Unlisted Public Company Market (UPCoM).

Customers visit a Dien May Xanh's store in HCM City. — Photo dienmayxanh.com

The Hochiminh Stock Exchange (HoSE) added around VNĐ166.4 trillion (US$6.3 billion) in market capitalisation in just over a month as four stocks from the banking, securities and retail sectors began trading on the exchange between mid-July and mid-August 2026.

From July 14 to August 18, Vietbank (VBB), BVBank (BVB), Dien May Xanh (DMX) and LPBank Securities (LPS) made their HoSE debuts, either following initial public offerings (IPO) or transfers from the Unlisted Public Company Market (UPCoM).

Dien May Xanh accounted for the largest share.

More than 1.26 billion DMX shares began trading on August 6 at a reference price of VNĐ80,000 apiece, giving the electronics retailer an initial market capitalisation of around VNĐ101.42 trillion. At that valuation, it became the largest listed company by market capitalisation in the consumer electronics and information technology retail segment at the time of its debut.

The company had completed its IPO in June, selling more than 166.4 million shares at VNĐ80,000 each and raising over VNĐ13.3 trillion. Under its announced capital-use plan, all proceeds were earmarked for repayment of bank debt.

LPBank Securities was another sizeable IPO-linked listing.

More than 1.4 billion LPS shares started trading on HoSE on August 18 at a reference price of VNĐ30,000, corresponding to an initial market capitalisation of approximately VNĐ42.26 trillion.

Before listing, the securities company sold nearly 141.9 million shares through an IPO at VNĐ30,000 each, raising more than VNĐ4.25 trillion.

Most of the proceeds are intended to expand its core securities businesses.

LPBank Securities plans to allocate 45 per cent to margin lending and 42.75 per cent to investments in financial products such as deposit contracts and certificates of deposit. Nearly 12 per cent will be used for proprietary trading and technology infrastructure.

Following the IPO, its charter capital increased from VNĐ12.67 trillion to over VNĐ14 trillion.

Combined, DMX and LPS alone brought more than VNĐ143 trillion in market capitalisation to HoSE based on their respective debut reference prices.

The other two additions came from the banking sector and followed a different route, with both Vietbank and BVBank transferring their shares from UPCoM to HoSE.

Nearly 1.1 billion VBB shares started trading on HoSE on July 14 at a reference price of VNĐ13,300, valuing Vietbank at approximately VNĐ14.3 trillion.

Before the transfer, VBB ended its final UPCoM session at VNĐ13,700 per share, around 45 per cent higher than at the beginning of 2026.

A week later, more than 640.8 million BVB shares joined HoSE on July 21. The first-day reference price of VNĐ13,100 gave BVBank a market capitalisation of nearly VNĐ8.4 trillion.

BVBank had traded on UPCoM for more than six years before the transfer. Alongside its HoSE listing, the bank was also approved to increase its charter capital by up to VNĐ3.504 trillion, targeting a capital base of nearly VNĐ10 trillion. 

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