July 2025 marks 25 years since the Vietnamese stock market began operations, starting on July 28, 2000, with two initial stocks. In the early phase (2000-2006), Vinh Son Song Hinh (VSH) was considered the largest company with a market capitalization of 16 trillion VND. Vinamilk (VNM) joined in 2006, coinciding with a market boom after Vietnam joined the WTO. FPT entered the market that same year, becoming the largest company with a market cap of 28 trillion VND. Subsequently, Vinamilk and Vingroup alternated dominance in capitalization. Vietcombank has held the top spot since 2021 with 476 trillion VND. Currently, over 50 companies have market capitalizations exceeding 1 billion USD. In the near future, the Techcom Securities (TCBS) is expected to conduct an IPO between 2025 and 2026.
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