IPO Results of TCBS and Its Impact on the Securities Sector

Techcom Securities (TCBS) is preparing for its IPO, expected to significantly influence the stock prices of securities companies like SSI, HCM, VCI, and VIX, which have P/B ratios ranging from 2-3 times. Companies with lower P/B such as SHS, VND, BVS, AAS, DSC tend to be smaller with limited market share. The anticipated high valuation target for TCBS is around 46,800 VND per share, increasing its market capitalization to 97 trillion VND. In terms of P/E, the ratio ranges from 20-40 times, with SSI and VIX having lower P/E values. Valuation is not the only determinant of attractiveness; investors should weigh risk and growth opportunities. Vietnam is forecasted to potentially upgrade to emerging market status, likely attracting foreign capital, benefiting the securities sector. Alongside the growth of digital assets, this will create many opportunities for securities companies.