This event marks the first time a mortgage-backed lending enterprise in Vietnam has been listed and publicly traded on a stock exchange. Not only is it a big step forward in the journey of information transparency, F88's listing also opens a new operational standard for legal property trading activities in particular and the entire financial sector in general - a sector that has suffered from many prejudices and limitations in access to capital.
Previously, on May 6, 2025, F88 was confirmed by the State Securities Commission as a public company, eligible to register for stock trading according to the law. At the time of listing, F88's charter capital was more than VND 82.6 billion, equivalent to more than 8.26 million outstanding shares. The company has also been approved for a plan to issue bonus stocks from the surplus of equity capital at a rate of 1,200%, increasing the expected charter capital to more than VND 1,100 billion. This is an internal capital restructuring activity, not causing a nurturing of shareholder rights, to prepare for a new growth period in accordance with the operating scale.
The official transaction on UPCOM is not only a development milestone for F88, but also a pioneering step, opening a new transparent standard for the alternative finance industry in Vietnam. This is also an important preparation step for public capital access capacity, to serve larger and longer-term business plans in the future. F88 clearly identifies that participating in the market is not only to be monitored more transparently, but also a financial driving force to help businesses expand their scale, raise operational standards and move closer to the goal of listing on HOSE in the future. Mr. Phung Anh Tuan, Chairman of the Board of Directors of F88.
According to a thematic report published by FiinGroup in June 2025, the outstanding debt of the Vietnamese jewelry market in 2024 is estimated to reach 200 trillion VND, equivalent to 8 billion USD. In particular, the group of "new generation" enterprises such as F88 is accounting for approximately 3.2% of the market share, showing that F88 still has a lot of room for growth in this field. Another special point is that while the number of traditional grocery stores is decreasing, the number of new generation grocery stores integrating technology, centralized management and diverse products is increasing rapidly.
To date, F88 operates 888 stores in 34 provinces and cities across the country, accounting for about 70% of the total number of new generation grocery stores nationwide. The company aims to reach 1,000 transaction points by 2026 and 2,000 stores by 2030. In addition to lending products with guaranteed assets, the company also promotes the development of micro-insurance and agents' banking services. Through strategic cooperation with the Military Commercial Joint Stock Bank (MBBank), F88 has gradually built a model of a "moderate financial transaction office" providing basic services such as customer identification, deposit/ withdrawal, money transfer, loan introduction, collection, household expenses, etc.
Along with that, F88 is stepping up digitalization with the MyF88 platform - a mobile application that has recorded more than 105,000 customers with online loans after only 2 months of implementation. F88 aims to have about 80% of transactions conducted via digital platforms by 2026 to optimize operational performance and enhance user experience.
In 2025, F88 sets a revenue growth target of 33%. After the first 6 months of the year, the company achieved a revenue of VND 1,745 billion, up 30% over the same period last year. Of which, revenue from the lending sector brought in VND 1,521 billion, up 28%. Revenue from insurance business and other sources reached 199.19.6 billion VND and 6 billion VND respectively, up 45% and 360% thanks to expanded product coverage and effective cross-selling ratio. The total disbursement value reached VND 7,146 billion, a sharp increase of 36% over the same period, while the net issuance ratio (net issuance debt on average outstanding loans) was maintained at 2.35%. The above results have brought the company VND 321 billion in pre-tax profit, an increase of more than 3 times over the same period last year.
