On May 13, Vinpearl (VPL) officially traded on the HoSE stock exchange with an initial reference price of 71,300 VND per share. Immediately upon listing, the stock surged to 85,500 VND, resulting in a sell-out. Vinpearl’s market capitalization soared to over 150 trillion VND, placing the company among the largest in Vietnam. This marks the largest IPO on the Vietnamese stock market since 2018. Vingroup, which owns Vinpearl, reported a first-quarter revenue of 84.053 trillion VND, a 287% increase from the same period in 2024, with a net profit of 2.243 trillion VND. Vinpearl recorded a first-quarter revenue of 2.971 trillion VND in 2025, up 76.6% year-on-year, with a net profit of 90 billion VND. For 2025, Vinpearl aims for a revenue of about 14 trillion VND and a net profit of 1.7 trillion VND.
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