AsemconnectVietnam - With the success of its recent initial public offering (IPO), VPS has become one of the top securities companies in terms of charter capital and equity, laying the groundwork for strong growth in the future.

Increasing Financial Strength to Improve Business Results
In mid-November, VPS successfully issued 202.31 million shares at a price of VND60,000 per share to individual and institutional investors through an IPO, increasing the company's equity capital by an additional VND12,138.6 billion.
Following the IPO, VPS's equity reached VND26,500 billion, while its charter capital reached VND14,823 billion, a 2.6-fold increase compared to the end of 2024, placing the company among the top securities companies with the largest charter capital and equity in the market today.
This is in addition to the fact that international organizations, exclusively advised and arranged by Jefferies Singapore Limited – a leading global investment banking and capital markets services firm – have committed to investing approximately VND2,000 billion in the company.
The launchpad from the IPO has elevated VPS's financial capacity to a new level, significantly increasing its margin lending capacity in the future to meet the high demand for investment capital from investors during a booming market.
This will help the Company's revenue and profits from margin lending and brokerage activities grow strongly in the future as the trading market becomes more active and market liquidity increases, as the Company currently holds the largest market share in stock brokerage on the stock exchange.
In addition to increasing resources for lending activities, the additional capital from investors will also provide the Company with significant resources for developing its technology system in the coming years, as well as researching and implementing new financial products that are in line with market trends and the legal framework, thereby further enhancing revenue and profits.
In the first nine months of 2025, VPS recorded operating revenue of VND5,900 billion and after-tax profit of nearly VND2,600 billion. According to the plan, the Company aims to achieve net revenue of approximately VND8,800 billion in 2025. Pre-tax and after-tax profits were VND4,375 billion and VND3,500 billion respectively.
This is likely the basis for the market's current belief that VPS will split shares at a 1:1 ratio next year. If this materializes, it will be a crucial foundation for the stock's future price increase.
Catalyst from a new phase of the stock market
According to forecasts by Rong Viet Securities Company (VDS), the Vietnamese stock market has strong growth potential in 2026, with corporate growth continuing at EPS (earnings per share) of 18-20%.
This is thanks to the continued stability of the macroeconomic environment and the government's planned GDP growth rate of 10% per year.
Regarding the stock market, on October 8, 2025, FTSE Russell announced that the Vietnamese stock market had met all official criteria and was upgraded from a frontier market to a secondary emerging market.
It is predicted that the official upgrade of the Vietnamese stock market by FTSE Russell will attract billions of US dollars in investment capital from foreign investment funds into the shares of listed Vietnamese companies.
This will be a crucial catalyst to increase confidence in trading activities among domestic investors, thereby significantly increasing market size and liquidity. This is an extremely favorable environment for brokerage firms with large market shares, such as VPS, to experience strong growth in revenue and profits.
This is in addition to the fact that market regulators are planning to promote the listing of shares of foreign direct investment (FDI) companies.
According to Ms. Vu Thi Chan Phuong, Chairwoman of the State Securities Commission, the participation of high-quality FDI enterprises will enrich the range of goods on the stock market; increase the attraction of international investors; contribute to balancing the proportion between industry groups, and increase the proportion of manufacturing and trading enterprises alongside the dominant financial, banking, and real estate sectors.
In addition, if the plan for trading through lunchtime and selling securities pending settlement is implemented in the near future, it will also help boost market liquidity. This is a factor that benefits securities companies, and a company with a large brokerage market share like VPS currently will gain a significant advantage.
N.Nga
Source: VITIC/Tinnhanhchungkhoan