The initial public offering of shares of Dien May Xanh Investment Joint Stock Company (DMX) is entering the final stage, with registration and deposit time for buying shares until 4:00 PM on June 17, 2026. Vietcap is the Exclusive Financial Consultant and Official Distribution Agent.
DMX offers to sell 179,500,400 shares at a price of 80,000 VND/share, expected to raise about 14,360 billion VND. At this price level, the enterprise is valued at about 3.35 billion USD before issuance and the expected market capitalization after IPO reaches about 3.9 billion USD. According to Vietcap, the attractiveness of the deal comes from valuation, growth prospects, cash flow generation capacity and cash dividend policy.
Regarding foreign investors, Mr. Phap Dang, Managing Director of Investment Banking and Securities Division of Vietcap, said: "This is one of the largest IPO offerings ever in Vietnam, so distributing all shares is not easy at all. In that picture, institutional and foreign investors are an important pillar. Vietcap has spent a lot of time and resources to approach foreign investors, organize roadshows in Singapore and meet directly with no less than 300 investment organizations and foreign investors".
DMX entered IPO after a restructuring process, with the orientation of clarifying the value of the phone - electronics retail segment according to an independent operating model. In the first 5 months of the year, DMX recorded revenue of more than 54.6 trillion VND, an increase of 33% compared to the same period and completing 45% of the annual plan.
After listing, DMX is expected to pay dividends of about 4,000 VND/share, equivalent to about 5% of the profit on the offering price, and at the same time maintain a minimum cash dividend ratio of 50% of the annual after-tax profit.
According to Vietcap, the Vietnamese electronics market may reach about 15 billion USD by 2030, an increase of about 1.5 times compared to 2025. Vietcap forecasts DMX revenue in the 2026–2030 period to grow on average by about 11%/year, expected profit to increase by about 22%/year, thanks to high profit margins and new drivers such as consumer finance, Green Electronics, Super App, TopZone and EraBlue.
