Dien May Xanh (DMX) IPO at 80,000 VND/Share, Raising Over $546 Million
This Aveluro analysis covers DMX. The classified event type is ipo, with positive sentiment and a deterministic market-impact score of 6.0/10. Aveluro classifies this story as a positive catalyst in the stock's news coverage. Source coverage came from VnEconomy - Chứng khoán, classified as a primary/top-tier source.
Key Facts
Caveat: Not investment advice. · How Aveluro computed this: Aveluro combines extracted event facts, source credibility, ticker context, and market data. Scores are deterministic research signals, not recommendations.
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Overview
Dien May Xanh (DMX), a leading electronics retailer in Vietnam, has announced its initial public offering (IPO) plan, offering 179.5 million shares at 80,000 VND per share, aiming to raise over 546 million USD. The company expects to list on the Ho Chi Minh Stock Exchange (HOSE) in August 2026. CEO Doan Van Hieu Em described the valuation as “very attractive” with a P/E ratio of around 10-12 times.
Key Facts
- DMX plans to sell 179.5 million shares at a fixed price of 80,000 VND per share.
- The IPO is expected to raise over 546 million USD (14,360 billion VND).
- Post-IPO, DMX’s charter capital will increase from 11,013 billion VND to 12,808 billion VND.
- The company’s market capitalization is estimated at approximately 3.9 billion USD after the offering.
- DMX expects to list on HOSE in early August 2026.
- CEO Doan Van Hieu Em personally subscribed to 2 million shares, worth 160 billion VND, on the first day of registration.
- DMX commits to a minimum 50% cash dividend payout of net profit annually for 2026-2030, with a special 40% cash dividend for 2026.
What Happened
On May 27, 2026, Dien May Xanh (DMX) held a roadshow in Hanoi to present its IPO plan. The company is offering 179.5 million common shares at a fixed price of 80,000 VND per share, with the subscription period opening on the same day. Investors can register through online platforms or via authorized securities companies including Vietcap, HSC, DNSE, SHS, TCBS, KIS Vietnam, VNDIRECT, and BSC.
CEO Doan Van Hieu Em stated that the IPO price corresponds to a P/E of about 12 times based on the 2026 business plan. However, with Q1 results exceeding targets and Q2 expected to be strong, the actual P/E could drop to around 10 times. He emphasized that a P/E of 10x is “very attractive” and “a bargain.” The CEO also demonstrated confidence by personally purchasing 2 million shares worth 160 billion VND on the first day.
Market Context
DMX operates in the Vietnamese retail electronics sector, with over 3,000 stores nationwide. The company has shown stable revenue and profit growth. The IPO comes at a time when the Vietnamese stock market has been active, with several large listings. DMX’s listing on HOSE will add a significant retail stock to the exchange. The company’s commitment to a high dividend payout policy may appeal to income-focused investors.
Strategic Significance
The IPO is one of the largest in Vietnam in recent years, reflecting DMX’s dominant market position and growth prospects. The company’s strategy focuses on maintaining a strong retail network and generating consistent cash flows to support high dividend payouts. The CEO’s personal investment signals strong insider alignment with shareholders. The attractive valuation (P/E 10-12x) relative to peers could draw significant demand from both domestic and foreign investors.
What to Watch
- Subscription results and oversubscription levels during the IPO period.
- Q2 2026 earnings release (expected late June or early July) to confirm earnings momentum.
- Listing date on HOSE and initial trading performance in August 2026.
- Dividend payments in 2026, including the special 40% cash dividend.
- Any updates on store expansion or market share changes.