Dien May Xanh (DMX) IPO Opens: 40% Cash Dividend, HOSE Listing in August 2026

Overview

Dien May Xanh (DMX), Vietnam’s leading electronics and appliance retailer with over 50% market share, officially opens its IPO subscription on May 27, 2026. The company is offering 179.5 million shares at 80,000 VND each, aiming to raise 14,360 billion VND (over USD 546 million). DMX plans to list on HOSE in August 2026 and has announced a 40% cash dividend for 2026, positioning the IPO as a landmark event in the Vietnamese retail sector.

Key Facts

• IPO subscription opens on May 27, 2026, and closes at 4:00 PM on June 17, 2026.
• DMX offers 179.5 million shares at a fixed price of 80,000 VND per share.
• Total proceeds from the IPO are 14,360 billion VND (over USD 546 million).
• Investors must deposit 10% of the total subscription amount during the subscription period.
• Share allocation results will be announced on June 18-19, 2026, with payment due from June 22-29, 2026.
• DMX expects to list on HOSE in early August 2026.
• The company has declared a 40% cash dividend for 2026.
• Early-bird investors (first 500 qualified) can receive shopping vouchers totaling up to 2.65 billion VND.

What Happened

CTCP Dau tu Dien May Xanh (DMX) officially opened its IPO subscription on May 27, 2026, as announced in a company filing. The offering comprises 179.5 million common shares at a fixed price of 80,000 VND per share, representing one of the largest IPOs in Vietnam’s retail electronics history. The subscription period runs until June 17, 2026, with a 10% deposit required at registration.

Investors can subscribe through several securities companies, including Vietcap (lead distributor), HSC, DNSE, SHS, TCBS, KIS Vietnam, VNDIRECT, and BSC. The company also launched a promotional program offering shopping vouchers worth up to 20 million VND for the first 500 qualified investors, depending on the number of shares subscribed. DMX plans to list its shares on HOSE in early August 2026 and has committed to a 40% cash dividend for the 2026 fiscal year.

Market Context

DMX, currently trading on UPCOM, is the dominant player in Vietnam’s electronics and appliance retail market, holding over 50% market share. The IPO comes amid a recovery in consumer electronics spending and strong investor appetite for retail stocks. The 40% cash dividend yield (based on the IPO price) is exceptionally high and likely reflects the company’s strong cash flow generation. The listing on HOSE is expected to enhance liquidity and attract foreign institutional investors.

Strategic Significance

The IPO proceeds will strengthen DMX’s balance sheet and fund expansion plans, including store network growth and e-commerce capabilities. The 40% cash dividend signals management’s confidence in near-term earnings and commitment to shareholder returns. For long-term investors, DMX offers exposure to Vietnam’s growing consumer electronics market, with a dominant market position and potential for margin improvement through scale. The IPO also provides a rare opportunity to acquire a large stake in a market leader before its HOSE listing.

What to Watch

• Subscription demand and oversubscription ratio by the June 17 deadline.
• Allocation results and retail versus institutional participation on June 18-19.
• DMX’s Q2 2026 earnings release, expected in July, to validate the dividend commitment.
• Listing date confirmation and first-day price performance on HOSE in August.
• Any updates on foreign ownership limits or strategic investor participation.