Businesses turn to stock market for fresh capital
Despite subdued liquidity and rising interest rates businesses are stepping up IPOs listings and capital raisings betting increasingly on the stock market to unlock long term funding
Businesses are increasingly seeking capital from the stock market, following a series of high-profile initial public offerings (IPOs) and share listings in recent years. Capital Securities plans to offer up to 12 million shares, increasing its charter capital from $12 million to $16.8 million. LPBank Securities Corporation made its debut on the Ho Chi Minh Stock Exchange with a market capitalization of over $1.69 billion.
Kafi Securities is expected to raise up to $75 million through the sale of 125 million shares and employee stock ownership. HD Securities Corporation is planning to issue 164 million shares in an IPO to bolster its financial capacity. Fitch Ratings has assigned HDBank an international credit rating of BB- with a Stable Outlook, reflecting Vietnam's robust economic growth.
The stock market's growth is crucial for Vietnam's goal of double-digit economic growth, requiring investment resources beyond bank credit. Foreign-invested enterprises are expected to play a significant role in unlocking new capital channels for the Vietnamese stock market.
Written by urgent.news from Vietnam Investment Review's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
