“Bomb” Vinpearl Listed, Vietnam Stock Market “Quenches Thirst” for New Goods

On May 13, over 1.79 billion shares of Vinpearl Company (VPL) were officially listed on HoSE, with an initial trading price of 71,300 VND/share, soaring to 85,500 VND/share in the first session, pushing its market capitalization over 150 trillion VND. This is expected to rejuvenate the Vietnamese stock market, marking the first large deal since Vinhomes in 2018. Vinpearl operates in tourism and hospitality, providing investors with a new choice amid the recovery of international tourism and a growing middle class in Vietnam. Mirae Asset’s investment consultant believes this deal will create a positive market sentiment, contributing to the goal of reaching 120% of GDP in stock market capitalization by 2030. Vinpearl enhances the capacity to raise capital for expansion strategies as the tourism sector rebounds. Previous large deals have shown the role of a “bomb” in boosting the market. Following Vinpearl, many other companies are expected to IPO, with investors looking forward to a significant wave of IPOs in the coming years.