July 2025 marks 25 years since the Vietnamese stock market commenced operations. The market started with only 2 stocks. By 2005, VSH shares of Vinh Son – Song Hinh Hydropower Company dominated with a market capitalization of 16 trillion VND. The market surged in 2006 as large enterprises like FPT and Vinamilk listed, with FPT becoming the largest on the exchange by the end of 2006 with a market cap of 28 trillion VND. Vinamilk maintained high rankings for years, while Vingroup also made a mark after listing in 2007. The banking sector became significant with many large banks listing from 2009 to 2014. Currently, Vietcombank tops the market cap chart at 476 trillion VND. Over 50 companies now exceed a market cap of 1 billion USD, including major names like Masan Group and Eximbank. The stock market is set to welcome a new IPO from Techcom Securities Company.
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