VPX Stock Eligible for Margin Trading on HOSE After 6-Month Listing
This Aveluro analysis covers VPX in the Financial Services sector. The classified event type is regulation change, with positive sentiment and a deterministic market-impact score of 7.0/10. Aveluro classifies this story as a positive catalyst in the stock's news coverage. Source coverage came from Vietstock - Cổ phiếu, 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.
Overview
HOSE has removed VPX (VPBank Securities) from the list of stocks ineligible for margin trading, effective after the mandatory 6-month listing period. The company reported strong Q1 2026 results with revenue quadrupling and net profit up 55% YoY, supporting its ambitious full-year target.
Key Facts
- HOSE removed VPX from the ineligible margin list on June 15, 2026, after 6 months of listing.
- VPX listed 1.875 billion shares on HOSE on December 11, 2025, following a record IPO raising nearly VND 12,713 billion.
- Q1 2026 operating revenue reached VND 2,871 billion, more than 4x YoY and up 17% QoQ.
- Net profit after tax in Q1 2026 was nearly VND 436 billion, up 55% YoY.
- Full-year 2026 pre-tax profit target is VND 6,453 billion; Q1 achieved VND 515 billion (8% of target).
- Management expressed confidence in meeting or exceeding the full-year target, driven by margin lending, bond issuance advisory, and bond investment.
- As of June 12, 2026, HOSE listed 66 stocks ineligible for margin, including 13 stocks with less than 6 months of listing.
What Happened
HOSE announced the removal of VPX (VPBank Securities) from the list of stocks ineligible for margin trading, effective after the stock had been listed for the required six months. VPX began trading on HOSE on December 11, 2025, with 1.875 billion shares, shortly after completing a record IPO that raised nearly VND 12,713 billion.
In Q1 2026, VPBank Securities reported operating revenue of VND 2,871 billion, more than quadruple the same period last year and up 17% from the previous quarter. Net profit after tax reached nearly VND 436 billion, a 55% year-on-year increase. The company noted that net profit margins were partly compressed by geopolitical uncertainties causing market volatility, which pressured investment activities across the securities industry.
Market Context
VPX closed at VND 25,400 on June 14, 2026, down 0.97% with volume of 824,400 shares. The stock has been trading on HOSE since its December 2025 listing. The removal from the ineligible margin list is a positive liquidity catalyst, as it allows investors to use margin to trade VPX shares. The broader securities sector has faced headwinds from market volatility, but VPX’s strong Q1 results and ambitious full-year target suggest confidence in its growth trajectory.
Strategic Significance
Margin eligibility is a key milestone for newly listed stocks, often leading to increased trading volume and price discovery. For VPX, this development comes alongside robust Q1 earnings, reinforcing its position as a major player in Vietnam’s securities industry. The company’s focus on margin lending, bond advisory, and bond investment provides multiple revenue streams that could support its aggressive 2026 profit target. The record IPO size and rapid listing timeline underscore VPBank’s strategic push to scale its securities arm.
What to Watch
- Q2 2026 earnings release to assess progress toward the full-year pre-tax profit target of VND 6,453 billion.
- Margin lending growth and market share data from VPBank Securities in upcoming quarterly reports.
- Any updates on bond issuance advisory deals that could drive fee income.
- Changes in HOSE’s margin eligibility list and any new additions or removals affecting sector peers.
- Market volatility and geopolitical developments that could impact VPX’s investment portfolio returns.