After a quiet spell, the Hochiminh Stock Exchange (HOSE) is buzzing with new listings, reaffirming its role as the powerhouse behind 90% of Vietnam’s market value. Billions of dollars into HOSE In late December 2025, more than 1.07 billion shares of Masan Consumer Holdings (MCH), a subsidiary of Masan Group, officially began trading on the Hochiminh Stock Exchange (HOSE). In preparation for this milestone, Masan had gradually reduced its ownership stake from over 92% to 65% since early 2024, opening the door for broader shareholder participation. Yet the true highlight of 2025 was the trio of landmark deals that combined initial public offerings (IPOs) with listings on HOSE—an exchange known for its stringent requirements compared with HNX and UPCoM. These included two bank‑affiliated securities firms, TCBS and VPBankS (owned by Techcombank and VPBank, respectively), as well as VPS Securities, a market leader in individual brokerage. Thanks to streamlined procedures—where IPO and listing applications were reviewed simultaneously—it took these companies only two to three months to bring their shares to market. In total, nearly 5.7 billion shares were listed on HOSE, with a combined market capitalization of around US$10 billion at the time of debut. This is a striking figure, given […]
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