Vietnam Bond Market Association (VBMA): September update
There were 27 corporate bond issues last month, totalling VND23.7 trillion (about USD901 million) in value. The banking sector still dominated the market with 73% of total value of bond issues. In the near future, Vingroup (VIC VN) will potentially have a VND2.5 trillion (about USD95.1 million) secured corporate bond issue with 2-year tenor. Vietjet Air also plans to offer unsecured corporate bonds to investors via private placements with the total value of up to VND3 trillion (about USD114 million), 5-year tenor, and floating coupon rate.
Tan Phu Plastics (TPP VN): Wants to raise money from existing shareholders for deleveraging
The firm plans to offer 20 million additional shares at VND10,000 per share to all existing shareholders with October 17th as Record date. Every shareholder will receive options to buy 4 additional shares for every 9 shares held. Expected proceeds of VND200 billion (about USD7.6 million) will be used fully for debt principal repayment. TPP VN closed at VND11,300 per share on 10th October 2025, thus 8.4x P/E and 0.8x P/B.
VNTT, a member of Becamex IDC (TTN VN): VNPT wants to divest of its remaining stake
The state-backed telco VNPT will sell all of its 2 million TTN VN shares (equivalent to 5.4% of current shares outstanding) via public auction. The starting per share price is VND28,492, resulting the whole lot price of nearly VND57 billion (about USD2.17 million). Investors may register and transfer deposit from October 8th to 27th. The auction will be held on November 3rd. Beside VNPT, Becamex IDC (BCM VN) has been owning 48.6% direct interest, effective assuming control over the firm. TTN VN was last traded at VND18,100 per share on 10th October 2025, hence 9.9x P/E and 1.3x P/B.
VNX: VN100 futures were introduced
The VN100 futures was equity index futures using VN100 as the underlying index. At the same time, there always be 4 variants of VN100 futures active, representing 4 different time to maturity (i.e. 1, 2, 3, 6 months) which is the same as VN30 futures. VN100 consists of 100 stocks, in which the top 10 largest stocks only account for about 47.6% of the index’s market capitalization, mitigating influences of price volatility of blue chips.
Vietnam Airlines wins bid for 3 logistic projects at Long Thanh International Airport (LTIA)
The Ministry of Construction (MOC) has approved and announce Vietnam Airlines (HVN VN) as the contractor for 3 special aviation logistics projects at Long Thanh International worth VND5,602 billion (approximately USD$212 million). Construction is expected to begin in 2025. HVN VN closed at VND36,200/s on 10th October 2025, thus 10.1x P/E and 19x P/B.
