{"id":1088,"date":"2026-05-29T08:00:00","date_gmt":"2026-05-28T23:00:00","guid":{"rendered":"https:\/\/india-marketing.jp\/?post_type=vietnam-news&p=1088"},"modified":"2026-08-02T16:54:01","modified_gmt":"2026-08-02T07:54:01","slug":"dien-may-xanh-ipo","status":"publish","type":"vietnam-news","link":"https:\/\/india-marketing.jp\/en\/vietnam-news\/dien-may-xanh-ipo\/","title":{"rendered":"Dien May Xanh heads for a $546 million IPO listing on the Ho Chi Minh Stock Exchange: Vietnam's home appliance retail giant enters the capital markets"},"content":{"rendered":"
\nThis article is based on what we could verify As of August 1, 2026<\/strong> This article is based on public materials and news reports from Vietnam. Vietnam's tax system, regulations, and administrative divisions change frequently, so information here may have been updated since publication. For actual business decisions, please confirm the latest details with the relevant government authorities or local experts as primary sources.\n<\/div>\n\n\n

Vietnam's largest home appliance and electronics chain, Dien May Xanh, will carry out an IPO of $546 million (about 84.6 billion yen). The core subsidiary, which generates roughly 70% of the consolidated sales of parent company Mobile World Investment Corporation (MWG), is aiming to list on the Ho Chi Minh Stock Exchange (HoSE).<\/p>

IPO details<\/h2>

Dien May Xanh plans to offer up to 179.5 million shares (16.3% of shares outstanding). The offering price was set at VND 80,000 per share (about 480 yen \/ about $3.04), with a minimum offering price of VND 16,163 (about 97 yen). The subscription period runs from May 27 to June 17, with Vietcap Securities acting as lead underwriter.<\/p>

Proceeds will be allocated to debt repayment, business expansion, and capital investment. Parent company MWG has already received a special dividend of VND 38 trillion (about $1.45 billion) from Dien May Xanh ahead of the listing.<\/p>

IPO data<\/h2>
Item<\/th>Description<\/th><\/tr><\/thead>
Number of shares offered<\/td>Up to 179.5 million shares (16.3%)<\/td><\/tr>
Offering price<\/td>VND 80,000 (approx. JPY 480 \/ approx. USD 3.04)<\/td><\/tr>
Target amount raised<\/td>Approx. USD 546 million (approx. JPY 84.6 billion)<\/td><\/tr>
Application period<\/td>May 27 - June 17, 2026<\/td><\/tr>
Listing venue<\/td>HoSE (Ho Chi Minh Stock Exchange)<\/td><\/tr>
Lead underwriter<\/td>Vietcap Securities<\/td><\/tr>
Pre-IPO special dividend<\/td>VND 38 trillion (approx. USD 1.45 billion) to parent company MWG<\/td><\/tr><\/tbody><\/table>

Background: MWG Group's 'spin-off listing' strategy<\/h2>

Parent company MWG also operates multiple business lines in addition to Dien May Xanh, including Bach Hoa Xanh (a mini-supermarket chain with 2,758 stores), An Khang (a pharmacy chain with 404 stores), and EraBlue (198 stores in Indonesia). The spin-off listing of Dien May Xanh is aimed at letting the market value each business's shareholder value independently.<\/p>

Dien May Xanh posted VND 109.5 trillion (approx. USD 4.17 billion) in revenue and VND 5.8 trillion (approx. USD 220 million) in net profit in 2025, accounting for 82% of MWG's consolidated profit. For 2026, it targets a 12% increase in revenue to VND 122.5 trillion (approx. USD 4.66 billion) and a 27% increase in net profit to VND 7.35 trillion (approx. USD 280 million).<\/p>

Dien May Xanh's business scale<\/h2>
Metric<\/th>2025 results<\/th>2026 target<\/th><\/tr><\/thead>
Revenue<\/td>VND 109.5 trillion (approx. USD 4.17 billion)<\/td>VND 122.5 trillion (approx. USD 4.66 billion)<\/td><\/tr>
Net profit<\/td>VND 5.8 trillion (approx. USD 220 million)<\/td>VND 7.35 trillion (approx. USD 280 million)<\/td><\/tr>
Number of stores<\/td>2,008 stores (as of end of February 2026)<\/td>\u2014<\/td><\/tr>
Contribution to MWG's consolidated results<\/td>70% of revenue, 82% of profit<\/td>\u2014<\/td><\/tr><\/tbody><\/table>

Industry reaction<\/h2>