Sharing at the 2026 Business Forum with the theme "New growth space: Opportunities and strategies" held on the morning of October 22, Mr. Huynh Minh Tuan, Founder of FIDT and Vice Chairman of APG Securities, said that there are a series of strong brands in the process of preparing to list, which are assessed by investors as "quality products" capable of creating new momentum for the market in the coming time.
In particular, in the financial group, many enterprises such as VPBankS, Techcom Securities (TCBS), VPS, KAFI, F88 or VNPAY are expected to contribute to expanding the scale of capitalization and improving liquidity when listed.
Of which, TCBS Securities (Code: TCX) has listed and officially traded more than 2.31 shares of TCX Securities on October 21. This is one of the most interested deals in the market recently. Similarly, F88 officially listed 8.26 million shares on UPCoM on August 8 at an offering price of VND 634,900 per unit.
In the consumer sector, familiar names to Vietnamese people such as Masan Consumer, The Gioi Di Dong, TH Group, FPT Retail, Long Chau Pharmacy chain, Bach Hoa Xanh, Highlands Coffee, Golden Gate or CP Group are also included in the list of potential IPOs in the coming period.
In other fields, many large enterprises such as MISA, THACO, DatVietVAC, Viettel IDC, Galaxy Cinema, GELEX Infra and Hoa Phat Agriculture are also in the group expected by analysts.
Mr. Huynh Minh Tuan commented that this wave of listing will help the Vietnamese stock market increase the attraction of domestic and foreign capital flows. At the same time, goods on the market should also be more diverse in industries, from technology, manufacturing, agriculture to infrastructure... Sectors such as consumption, services, technology are also expanded, helping investors have more opportunities to choose.
Mr. Tuan also said that the State Securities Commission (SSC) is expected to launch a new set of investment indexes on November 3, 2025, including VNMITECH (focusing on technology groups), VN50 Growth (large-cap growth group) and VNDIVIDEND (dividend sharing group). The addition of these indicators aims to diversify products, increase the specialization of each group of stocks and meet the increasing investment needs of institutional and individual investors.
Commenting on the current stock market, Mr. Nguyen Viet Duc, Director of Digital Business of VPBank Securities (VPBankS) said that in the long term, securities are still an investment channel that brings good yields, accurately reflecting the health and growth expectations of the Vietnamese economy.
Mr. Duc also said that in stock investment, there are always two parts - short-term and long-term.
However, according to Mr. Duc, the most important thing when investing is to recognize when the market is cheap and when it is expensive. This valuation is not really too complicated. In large markets such as the US, the average P/E ratio fluctuates 26 times, because most of the businesses there have a solid foundation, large scale, and low risk, so they are valued higher. Meanwhile, in emerging markets such as Vietnam, the 20-fold P/E is often considered the peak.
History shows that in 2018, the P/E of the Vietnamese market increased by more than 21 times, and the market immediately adjusted strongly. Currently, Vietnam's P/E is about 15 times, meaning it is still in an attractive area.
