LPBS Lists on HOSE as LPS, Market Cap Reaches $1.69B

Overview

LPBS (Chứng khoán LPBank) officially listed on the Ho Chi Minh City Stock Exchange (HOSE) on August 18, 2026, under ticker LPS. With over 1.4 billion shares and a reference price of VND 30,000, the company’s market capitalization reached VND 42,260 billion (~USD 1.69 billion), placing it among the largest securities firms on the exchange. The listing follows a period of explosive growth, including record quarterly profit in Q2 2026.

Key Facts

• LPBS listed on HOSE on August 18, 2026, with ticker LPS.
• Over 1.4 billion shares began trading; reference price set at VND 30,000 per share.
• Market capitalization at listing: VND 42,260 billion (~USD 1.69 billion).
• Q2 2026 pre-tax profit: VND 628 billion, up 140% YoY, a record quarterly result.
• Q2 2026 operating revenue: nearly VND 1,664 billion, up 276% YoY.
• H1 2026 cumulative operating revenue: VND 2,717 billion, nearly 5x YoY; pre-tax profit over VND 718 billion, 2.3x YoY.
• Full-year 2026 pre-tax profit target: VND 1,700 billion, up 160% from 2025.

What Happened

On August 18, 2026, HOSE held a listing ceremony for LPBS, officially bringing over 1.4 billion shares to trading under the ticker LPS. The event was attended by representatives from the State Securities Commission of Vietnam (SSC), Vietnam Securities Depository and Clearing Corporation (VSDC), HOSE, shareholders, and strategic partners. The company’s leadership received the listing decision and performed the traditional bell-ringing ceremony to open the first trading session.

LPBS reported record financial results ahead of the listing. In Q2 2026, pre-tax profit reached VND 628 billion, up 140% year-on-year, the highest quarterly profit in the company’s history. Operating revenue for the quarter was nearly VND 1,664 billion, up 276% YoY. For H1 2026, cumulative operating revenue reached VND 2,717 billion, nearly five times the prior-year period, while pre-tax profit exceeded VND 718 billion, 2.3 times higher. The company is tracking toward its full-year 2026 pre-tax profit target of VND 1,700 billion, a 160% increase from 2025.

Market Context

LPBS (LPS) is now listed on HOSE, joining the ranks of major Vietnamese securities firms. The company’s market cap of over VND 42,260 billion places it among the largest in the sector. The listing comes amid a period of strong growth for the Vietnamese brokerage industry, driven by rising retail participation and digital adoption. LPBS’s rapid expansion—total assets reached nearly VND 30,000 billion by end-2025, up almost 500% from the prior year—reflects the sector’s momentum. The stock’s reference price of VND 30,000 will be closely watched in early trading as investors assess valuation relative to peers.

Strategic Significance

LPBS’s listing marks a strategic milestone, enhancing its ability to raise capital and improve corporate governance. The company aims to become a leading growth-oriented securities firm, focusing on digital distribution and achieving top-5 ROE in the market. The listing provides a public market valuation and liquidity for shareholders, while the company’s strong financial performance—including record profits and rapid asset growth—supports its expansion plans. The firm’s positioning as a “new-generation financial institution” with a focus on simplifying investment access could differentiate it in a competitive landscape.

What to Watch

• First-day trading performance of LPS on HOSE, including price movement and volume.
• Q3 2026 earnings release to see if growth momentum continues.
• Progress toward the full-year 2026 pre-tax profit target of VND 1,700 billion.
• Any announcements regarding capital raising or strategic partnerships post-listing.
• Regulatory updates or market conditions affecting the brokerage sector.