HNX: Stopped receiving filings for stock listing
As the next step of integration between HNX and HOSE, HNX has no longer received filings for stock listing (on HNX) or stock trading registration (on UPCoM) since 1st July 2025, leaving HOSE the sole approver of new stocks and it will continue all in-process filings submitted to HNX. Following the plan, the re-listing of HNX stocks on HOSE will be done before year end 2025, and before year end 2026, all UPCoM stocks will be managed by HOSE. Additionally, covered warrant trading activities (CWs) are supervised by HOSE. In opposite, the HNX is responsible for the corporate bond market and also controls the index futures market.
Vietjet Air (VJC VN): Promotions among top management
Mr. Nguyen Thanh Son has been promoted to Managing Director (MD), meaning the second-in-command, after only the CEO – Mr. Dinh Viet Phuong. Mr. Nguyen Thanh Son joined Vietjet Air in 2011 and already has over 30 years of experience in aviation industry. Vietjet Air has not revealed its preliminary Q2 results, as yet. VJC VN closed at VND90,000 per share on 7th July 2025, thus 35.3x P/E and 3.0x P/B.
Masan Consumer (MCH VN): ESOP before listed on HOSE
Previously approved by 2025 AGM, the 2025 ESOP has been implemented with nearly 5.3 million additional shares (equivalent to 0.5% of current shares outstanding) will be issued at VND10,000 per share, with options allocated to 914 eligible employees based mostly on performance, contribution, and seniority. At 31st March 2025, Masan Consumer had 5,079 staffs, recording a decrease of 211 compared to year end 2024. MCH VN was last traded at VND123,200 per share on 7th July 2025, suggesting 16.7x P/E and 8.3x P/B.
BAF Viet Nam (BAF VN): Multi-story piggery project was approved
The provincial authority of Tay Ninh province approved a 25-hectare pig slaughterhouse and 2 multi-story piggeries of BAF Viet Nam, and each requires 65 hectares of land. Following BAF’s plan, the complex could use 1,550 hectares of land, consisting of 4 multi-story piggeries (each being about 6 floors tall), able to supply 1.6 million additional pigs annually alongside with 600,000 tons of feed. Muyuan – one of the world’s largest pig farming companies, is the strategic partner supporting BAF Viet Nam in technologies and construction. BAF Viet Nam also targets to have production of 900,000 pigs in 2025 and 10 million pigs in 2030. Other competitors have also invested heavily to increase their capabilities, e.g. Dabaco (DBC VN) is increasing its annual capacity from 1.4 million up to 2 million pigs with 4 new farms. BAF VN closed at VND34,050 per share on 7th July 2025, therefore 31.4x P/E and 3.4x P/B.
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