VPBank to list securities unit in Vietnam IPO later this year

Vietnam Prosperity JSC Bank (VPBank), backed by Sumitomo Mitsui Financial Group, plans an IPO for its securities unit, VPBank Securities, later this year. The IPO is expected to take place in Q4, pending shareholder approval. This would add to Vietnam's recent wave of listings, with the VN Index surging 29% YTD.

Vietnam Prosperity JSC Bank (VPBank), backed by Sumitomo Mitsui Financial Group, has announced plans for an initial public offering (IPO) of its securities unit, VPBank Securities. The IPO is expected to take place in the fourth quarter of this year, pending shareholder approval [2]. This move comes amidst a wave of listings in Vietnam, with the VN Index surging 29% year-to-date (YTD) [1].

VPBank Securities, or VPBankS, is seeking shareholder approval for the planned IPO, which is expected to take place in the fourth quarter. The exact size and timing of the potential share sale may still change as deliberations continue. The IPO could potentially add to the growing number of listings in Vietnam's financial sector, reflecting the country's increasing attractiveness to investors [2].

The IPO is a significant development for Vietnam's financial markets. It follows a series of recent IPOs, including Bullish's landmark listing on the New York Stock Exchange (NYSE), which raised $1.11 billion and achieved a market valuation of $5.4 billion [3]. Bullish's success highlights the growing interest and regulatory progress in the crypto sector, contributing to a more mature market environment [3].

The IPO of VPBank Securities is part of a broader trend in Vietnam's financial sector. The country's recent economic growth and increasing integration into global financial markets have made it an attractive destination for listings. The IPO of VPBank Securities is expected to further boost Vietnam's financial markets, potentially drawing more foreign investment and capital into the country.

References:
[1] https://news.bloomberglaw.com/daily-labor-report/vpbank-plans-vietnam-ipo-for-securities-unit-later-this-year
[2] https://www.ainvest.com/news/sumitomo-mitsui-financial-group-shares-rise-3-34-premarket-japan-inflation-rate-remains-boj-target-2508/
[3] https://www.ainvest.com/news/bullish-ipo-raises-1-11-billion-valued-5-4-billion-2508/