The State Securities Commission has just sent a letter to confirm that F88 has met the conditions as a public company in accordance with the Securities Law. According to the law, the time limit for registration of trading on UPCoM for securities has not been listed is 30 days from the date the State Securities Commission confirms the completion of the registration of public companies. With this approval, F88 was eligible to register stock trading on UPCoM and became a company operating in the financial sector replacing specializing in providing financial services to the first popular customers listed on Vietnam's stock exchange.
Becoming a public company is an important milestone, in the company's development roadmap, towards registering for transactions on the UPCOM exchange in the coming time. This affirms F88's continuous efforts in information transparency and standardizing corporate governance according to international standards. This is also a solid foundation for F88 to realize its plan to list on the Ho Chi Minh City Stock Exchange (HOSE) in the future, bringing sustainable value to ordinary customers and shareholders Mr. Phung Anh Tuan, founder and Chairman of the Board of Directors of F88, shared.
The above milestone not only reflects the company's own efforts, Mr. Tuan emphasized, but is also an acknowledgement of the development of alternative financial markets in Vietnam.
Financial statements for the first quarter of the company noted that the company had disbursed VND 3,284 billion, up 25% over the same period. The revenue in the first three months of the company and profit before tax increased by 21.5% and 204.1% respectively compared to the same period last year. In the future, F88 aims to become a leading corporation in the popular financial field.
To do so, the company needs to attract a lot of capital from investors and financial institutions by applying higher governance standards, business and financial standards. Becoming a public company and listing on the stock exchange is the motivation for us to do that, Mr. Tuan affirmed.
This year, the company aims to increase revenue by over 40%, and increase the total number of customers served to over 30%.
