Vietnam’s consumer loan company F88 has been approved to list on the Unlisted Public Company Market (UPCoM) starting Aug. 8 at VND634,900 (US$24.21) per share.
Over 8.26 million shares will be listed, giving the company a market cap of VND5.24 trillion ($200 million).
The planned listing price of F88 is 13 times that of the average price of a blue chip company on the main bourse Ho Chi Minh Stock Exchange (HoSE).
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An outlet of F88. Photo courtesy of the company |
UPCoM was established to encourage firms to participate in the securities market with the aim of eventually listing either on HoSE or the Hanoi Stock Exchange.
F88 chairman Phung Anh Tuan said the company aims to list on HoSE with a market cap of $1 billion by 2027.
F88, a key player in the consumer finance services sector, reported strong financial performance in the second quarter.
The company recorded revenue of VND925 billion, a 30% increase year-over-year, and pre-tax profit of VND89 billion, up 220%.
This growth was driven by a 47% surge in loan disbursements and a nearly 45% increase in outstanding loans.
The company has fulfilled 48% of its annual profit target by the end of June.
It already achieved the year’s expansion target with the opening of 888 new outlets.
F88 recently appointed Piyasak Ukritnukun, a financial expert from Thailand, as an independent member of the board of directors.
