Tuan Anh Group (V68) Approved for UPCoM Listing, Debut August 18

Overview

Tuan Anh Group (V68) has been approved by the Hanoi Stock Exchange (HNX) to register 33 million shares for trading on the UPCoM market. The first trading day is scheduled for August 18, with a reference price of 12,800 VND per share. This move marks the company’s official entry into the public market, following its annual shareholder meeting approval.

Key Facts

• HNX issued the approval decision on August 10.
• 33 million shares will be listed, corresponding to a charter capital of 330 billion VND.
• First trading day on UPCoM: August 18.
• Reference price on debut: 12,800 VND per share.
• Price band on debut: 40%, allowing a maximum price of 17,900 VND.
• The company operates nearly 150,000 square meters of factory space in Hải Phòng, with 10 production workshops and 5 warehouses.
• Annual production capacity exceeds 3 million textile products and 1.5 million mattresses.
• Latest quarter revenue: over 154.7 billion VND, up 44.3% year-on-year.

What Happened

Tuan Anh Group, officially known as CTCP Đầu tư Sản xuất và Thương mại Tuấn Anh, has received approval from the Hanoi Stock Exchange to list its shares on the UPCoM market. The decision, dated August 10, allows the company to register 33 million shares, equivalent to a charter capital of 330 billion VND. The first trading session is set for August 18, with a reference price of 12,800 VND per share and a 40% price band, allowing the stock to rise to as high as 17,900 VND on its debut.

The company, headquartered in Kiến An, Hải Phòng, has a history of nearly 35 years, originating from a cooperative production model. It was formally established in April 2002. Its core business is the production and processing of mattresses and related products such as blankets, sheets, pillows, and plastic-based raw materials. Tuan Anh Group owns three major brands: Nệm Kim Cương, Đệm Tuấn Anh, and Doll’s. The company’s production network includes nearly 4,000 distributors, agents, and retail customers, primarily in the northern and central regions.

Market Context

V68 will debut on the UPCoM exchange, which is part of the Hanoi Stock Exchange (HNX) system. The company’s financial performance has been robust, with a 44.3% increase in revenue in the latest quarter, driven by its core mattress and bedding products. The listing comes at a time when Vietnam’s consumer staples sector is seeing steady demand, though the company faces competition from both domestic and international mattress brands. The reference price of 12,800 VND per share implies a market capitalization of approximately 422.4 billion VND (about USD 18.2 million), based on the 33 million shares outstanding.

Strategic Significance

For long-term investors, the UPCoM listing provides a formal channel to participate in Tuan Anh Group’s growth story. The company’s focus on omnichannel distribution, combining showrooms, agents, websites, e-commerce platforms, and social media, is a strategic move to expand market coverage cost-effectively. With a strong brand portfolio and significant production capacity, Tuan Anh Group is well-positioned to capitalize on the growing demand for mattresses and bedding products in Vietnam. The listing also enhances corporate governance and transparency, which could attract institutional interest over time.

What to Watch

• First-day trading performance on August 18, including volume and price movement relative to the reference price.
• Quarterly earnings reports for the remainder of 2024 to assess whether revenue growth momentum continues.
• Any announcements regarding expansion of production capacity or new product lines.
• Updates on the omnichannel strategy and its impact on sales efficiency.
• Potential moves to transfer from UPCoM to the main board (HOSE or HNX) in the future, which would increase liquidity and visibility.