Taseco Land (TAL VN): Listing request was approved officially
HOSE announced that nearly 312 million TAL VN shares will be listed on HOSE with August 1st as the first day of trading. On that day, reference price will be VND25,500 per share, followed by capped volatility of 20% (instead of 7%). Taseco Group – the parent holding of both Taseco Land and Taseco Airs (AST VN), plans to divest, decreasing its ownership from 72.9% to 51% at Taseco Land to attract strategic investors. At the given price, TAL VN shares will be traded at 11.7x P/E and 2.0x P/B.
F88 (OTC: F88 VN): A new Board member
Mr. Piyasak Ukritnukun – CEO at Tidlor Holdings (TIDLOR BK), formerly known as Ngern Tid Lor, a Thai microfinance company specialized in vehicle title loans and insurance brokerage, was elected to the Board as an independent director. With 20 years in consumer finance and microfinance, he is expected to support F88 in business development and compliance to international standards, then listing shares on HOSE in 2027. Currently, F88 is already a public company but not tradable on UPCoM.
Q2 result updates:
- Bidiphar (DBD VN): Revenue was VND475 billion (about USD18.2 million, up +10% YoY) and net income was VND90 billion (about USD3.5 million, up +25% YoY). Capex for high-tech factory in Nhon Hoi increased by 14%, up to over VND181 billion (about USD7 million). DBD VN closed at VND56,300 per share on 28th July 2025, thus 18.2x P/E and 3.0x P/B.
- Sabeco (SAB VN): Revenue was VND6.8 trillion (about USD260.5 million, down -16% YoY) and net income was VND1.2 trillion (about USD46 million, down -3% YoY). SAB VN closed at VND49,300 per share on 28th July 2025, hence 15.3x P/E and 2.6x P/B.
- Mobile World Group (MWG VN): Revenue was VND37.3 trillion (about USD1.43 billion, up +9% YoY), marking the most successful quarter by revenue. The number of BHX stores (convenience store chain) increased by 414 year-to-date (totaling 2,180 stores, as at end of May, 2025). MWG VN closed at VND70,200 per share on 28th July 2025, meaning 23.8x P/E and 3.5x P/B.
- Masan Group (MSN VN): Consolidated revenue was VND18.3 trillion (about USD702 million, down -9% YoY) and net income was VND1.03 trillion (about USD39.5 million, up +105% YoY). MSN VN closed at VND77,600 per share on 28th July 2025, hence 48.8x P/E and 3.6x P/B.
Investor can see the full Newsletter below:
