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Huge investment opportunities on UpCOM
UpCOM is considered a potential investment channel for capital inflow, with eight representatives from the billion-dollar market capitalisation club on the stock market, as well as many stocks of large and leading enterprises in different fields.
Headquarters of Tech unicorn VNG Joint Stock Company (VNZ). VNG is currently the leading game publisher in Việt Nam, owing Zalo, the most popular messaging application in Việt Nam with more than 75 million users. — Photo VNG
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UpCOM currently has 860 shares with nearly VNĐ1.1 quadrillion market capitalisation - the result of the strong transformation of UpCOM over the years.
At the end of 2013, the market capitalisation of UpCOM was less than a quarter of HNX, reaching only nearly VNĐ26 trillion. By 2016, this number had skyrocketed to more than VNĐ300 trillion, doubling the HNX.
As of August 24, 2023, with nearly VNĐ1.1 quadrillion in market capitalisation, the size of UpCOM is 3.7 times higher than HNX and nearly one fourth of HoSE. Trading atmosphere on this floor is also much more exciting with the appearance of new and quality stocks.
UpCOM's leap in trading volume and market capitalisation was driven by the issuance of Circular 180/2015/TT-BTC (Circular 180) by the Ministry of Finance, providing guidance on trading registration on the unlisted securities trading system.
The introduction of Circular 180 has led to a wave of State-owned enterprises (SOEs) equitising and trading on UpCOM, with many famous names such as Vietnam Airlines (HVN), Airports Corporation of Việt Nam (ACV), The Việt Nam Engine and Agricultural Machinery Corporation (VEAM), Becamex (BCM), Việt Tiến Garment Corporation (VGG), Việt Nam National Textile and Garment Group (Vinatex or VGT), Viettel Post Joint Stock Corporation (VTP), Viettel Global (VGI), Bình Sơn Refinery and Petrochemical (BSR), PV Oil (OIL), and The Việt Nam Maritime Corporation (VIMC or MVN).
In addition to the SOEs group, UpCOM also welcomed many large private enterprises, such as Masan Consumer (MCH), Masan High-Tech Materials (MSR), Masan MEATLife (MML), Gelex Electric (GEE), Quảng Ngãi Sugar (QNS), Minh Phú Seafood (MPC), An Cường Wood (ACG) and Tech unicorn VNG Joint Stock Company (VNZ).
Change in quality
Not only the change in quantity, the quality of shares on UpCOM has also improved significantly. At the moment, UpCOM has 17 enterprises with market capitalisation of over VNĐ10 trillion, lower than HoSE but higher on HNX. In particular, UpCOM has eight representatives in the billion-dollar market capitalisation club on the stock market while HNX has no name in this club.
Some notable names can be mentioned as Airports Corporation of Việt Nam (ACV) with a market capitalisation of VNĐ7 billion. The corporation is currently managing, investing, and exploiting a system of 22 airports throughout the country, including nine international airports and 13 domestic airports. ACV is also the investor in the Long Thành International Airport project.
Viettel Global has a market capitalisation of more than US$3 billion. It owns a number of well-known telecommunications units abroad such as Metfone (Cambodia), and Unitel (Laos).
Bình Sơn Refinery and Petrochemical, with a capitalisation of $2 billion, manages and operates Dung Quất Oil Refinery, with a designed capacity of 6.5 million tonnes of crude oil per year, meeting about one-third of gasoline consumption demand of the country.
VEAM Corp, a capital contributor in a joint venture with Toyota, Honda, and Ford, also attracts the attention of investors. Thanks to dividends of trillions of Vietnamese đồng from these joint ventures, the profit of this corporation has been maintained for many years. VEAM Corp currently has a market capitalisation of more than $2 billion.
In the group of private enterprises, Masan Consumer is the biggest name with a market capitalisation of $2.4 billion. This is one of the largest consumer goods companies in Việt Nam, with products including instant noodles (Omachi, Kokomi, Sagami), seasonings (Nam Ngư dipping sauce, Chinsu, Chinsu soy sauce), and mineral water (Vĩnh Hảo, Vinacafe).
Another notable name is tech unicorn VNG Joint Stock Company (VNZ). VNG is currently the leading game publisher in Việt Nam, owing Zalo, the most popular messaging application in Việt Nam with more than 75 million users. Other typical products of VNG include the Zing MP3 online music player platform and the ZaloPay e-wallet.
VNG Limited, the shareholder holding 49 per cent of VNG's capital, has submitted an application for registration to the US Securities and Exchange Commission and is expected to conduct a public offering (IPO) on the Nasdaq Global Select Market. If successful, VNG will be the next company after VinFast, to list the US stock exchange.
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