Techcombank Securities (TCBS) is preparing for its IPO, which is expected to have a positive impact on securities company stocks. Recently, companies like SSI, HCM, VCI, and VIX have a P/B ratio ranging from 2 to 3, while SHS and VND have a P/B below 2. Some companies with a P/B below 1.5, such as BVS, AAS, DSC, are relatively small and operate in niche markets. Regarding the P/E ratio, securities companies currently have P/E ratios between 20 and 40, with SSI, VIX, and VND having lower P/E ratios. TCBS plans to offer shares at 46,800 VND, valuing it at around 3.7 billion USD, with a P/B ratio of 3.2. High valuations suggest competitive advantages but come with risks like shrinking market share. If Vietnam is upgraded to emerging market status, large capital inflows are expected, benefiting securities companies and creating growth opportunities in the digital asset sector.
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