The offering attracted nearly 13,000 successful orders with a total registered volume of around 390.5 million shares, equivalent to nearly VND13.24 trillion ($503.2 million) in value, 4% higher than the total number and value of shares offered.

The number of shares allocated to investors is calculated by multiplying the number of shares successfully registered for purchase by the allocation ratio (96.036%) and rounded down to the number in the unit place. For example, if registering to buy 10,000 shares, investors will be allocated to buy 9,603 shares.

VPBankS and its distribution agents will notify investors of their allocation results and payment amounts. Investors are required to complete payment between November 3 and November 7, 2025. The company will announce the final share purchase results before November 18 and expects to list its shares on the HoSE in December 2025.

Before VPBankS, Techcom Securities JSC (TCBS) also achieved success with its IPO, attracting 26,220 investors who registered to purchase a total of 575.16 million shares - 2.5 times the number offered. TCBS has since been listed on the HoSE and is currently the largest securities company in Vietnam by market capitalization.

The market is now watching for the upcoming IPO of VPS Securities, which has held the largest brokerage market share for several years. VPS is accepting IPO subscriptions between October 16 and November 6, offering 202.3 million shares at a minimum price of VND60,000 ($2.28) per share.

The offering is expected to raise at least VND12.14 trillion ($461.4 million). As the final offering price has not been fixed, the total proceeds from the IPO remain uncertain.

The successful IPOs of TCBS and VPBankS highlight strong investor appetite in Vietnam’s stock market. Despite recent market corrections, analysts expect the medium- and long-term growth trajectory to remain intact, supported by economic expansion, the market’s status upgrade to "secondary emerging" from September 11 next year, and a wave of capital increases and IPOs.

As for VPBankS, like many other brokerage houses, the company has delivered impressive results in the first nine months of 2025 amid favorable market conditions.

Pre-tax profit reached a record VND3.26 trillion ($123.9 million), nearly four times higher year-on-year, completing more than 73% of its revised 2025 full-year target of VND4.45 trillion ($169.2 million) - the second-highest in the industry.

As of end-Q3, VPBankS’s total assets stood at nearly VND62.13 trillion ($2.36 billion), more than double the figure at the beginning of the year. Margin lending reached a new milestone of over VND26.66 trillion ($1.01 billion), up more than VND 9.01 trillion (51%) from the previous quarter and nearly triple the level at the start of the year (nearly VND9.45 trillion).

Despite being a latecomer, VPBankS - backed by its parent bank, VPBank (ticker: VPB) - has quickly become one of Vietnam’s top three securities firms by total assets, equity, and margin loan balance, while ranking fourth in profit and among the top 10 in brokerage revenue in Q3/2025.

Following the IPO, VPBankS’s equity will rise to over VND32 trillion ($1.22 billion), on par with industry leader SSI Securities (nearly VND31.26 trillion as of end-Q3) and second only to TCBS (nearly VND42.48 trillion).

The newly raised capital will give VPBankS significant room for growth across its four core business pillars: investment banking, margin lending, proprietary trading, and brokerage.