Dien May Xanh Investment JSC (DMX), the electronics retail chain unit of Vietnamese retail giant Mobile World Investment Corporation, raised more than VND13.3 trillion ($505.8 million) in its initial public offering (IPO), after selling 93% of the shares offered.
The company sold about 166.4 million shares at VND80,000 per share, according to a July 1 company statement. Institutional investors accounted for 90% of total subscriptions, while local reports said the IPO drew almost 30 institutional investors representing nearly 60 domestic and international funds.
DMX said its charter capital will rise to about VND12.7 trillion from around VND11 trillion after the IPO.
The company plans to list its shares on the Ho Chi Minh City Stock Exchange (HOSE) in August 2026. It intends to pay a cash dividend of VND4,000 per share shortly after the offering, representing a 5% yield at the IPO price.
The planned IPO comes as Vietnam’s capital markets see stronger momentum, adding to a strong pipeline of local companies pursuing listings over the past two years.
The IPO comes as Vietnam’s capital markets gain momentum, with a strong pipeline of local companies pursuing listings. DMX’s deal was larger than VPBank Securities’ 2025 IPO, which raised around VND12.7 trillion and was described as Vietnam’s largest IPO of 2025. Several prominent brands are either preparing listings or considering public offerings, according to local English outlet Vietnam News.
The benchmark VN-Index has increased by approximately 26% YoY and hit its all-time high in May 2026. FTSE Russel earlier upgraded Vietnam from frontier to secondary emerging market status, effective September 2026, recognising the continued progress made by the Vietnamese market authorities in aligning with international standards and fuelling confidence for foreign investments.
Ho Chi Minh City-based DMX is a nationwide retailer of smartphones, televisions, home appliances and consumer technology products, supported by rising household spending and demand for digital devices.
The company reported revenue growth of 33% to VND54.6 trillion in the first five months of 2026, meeting 45% of its full-year target. DMX is targeting revenue and after-tax profit growth of 30% and 50%, respectively, this year.
Under its five-year financial vision for 2026 to 2030, DMX is targeting a revenue compound annual growth rate (CAGR) of 11% and net profit CAGR of 16%, according to parent Mobile World’s earlier IPO announcement.
