F88 IPO: $60M Raise for Vietnam Lending Boom on HoSE
By ThePip Desk
Vietnam’s F88 aims for HoSE listing with a $60M+ IPO, fueling expansion in secured lending and fintech to capture the booming alternative finance market.
🔥 Main Takeaway
F88, a leading Vietnamese consumer finance firm, is launching a major IPO to raise over $60 million, targeting a HoSE listing to capitalize on Vietnam’s booming alternative lending market.
📌 What Happened?
F88 Business Joint Stock Company plans an Initial Public Offering of more than 22 million shares, aiming to raise VND1.56 trillion (over $60 million).
The shares are priced at VND71,000 ($2.7) each, representing a 9% discount from its current market price, making it an attractive entry point.
Funds will boost its four subsidiaries, expand secured lending, grow its distribution network, and launch new financial services.
F88, with a charter capital exceeding VND1.67 trillion ($63.69 million), focuses primarily on secured lending, serving segments traditional banks often miss.
💰 Why It Matters
This IPO positions F88 to dominate Vietnam’s alternative finance sector, which Vietcap Securities projects to grow 17-20% annually between 2025 and 2030.
The market is significantly underserved, with current outstanding consumer loans from top firms at just $300 million, far below more developed Asian markets.
F88’s strong financial performance, with 2025 revenue up 36% to $118.2 million and net profit more than doubling to $27.37 million, signals robust growth potential for investors.
For consumers, this expansion means more accessible and flexible lending options, particularly for blue-collar workers and small businesses typically overlooked by traditional banks.
👀 What to Watch Next
Keep an eye on F88’s HoSE listing, which will provide liquidity and further validate Vietnam’s burgeoning alternative finance market.
The company aims to expand its physical footprint to 1,500-2,000 stores by 2030 and digitalize loan disbursements via its MyF88 app, enhancing reach and efficiency.
Watch for how F88 leverages its new capital to diversify services and penetrate deeper into underserved urban and industrial zones, potentially setting a benchmark for regional fintech.