UPDATE ON TRADING INFORMATION AND 1H EARNINGS
- According to an announcement from the Hanoi Stock Exchange (HNX), shares of F88 Investment Joint Stock Company (ticker: F88) will officially be traded on the UPCoM market starting August 8, 2025. Accordingly, over 8.26 million F88 shares will be listed for trading. The reference price on the first trading day is set at VND 634,900 per share, implying a market capitalization of approximately VND 5,244 billion. This price corresponds to a P/B ratio of 3.03 and a P/E ratio of 14.94, based on 2024 EPS.
- Phung Anh Tuan, Founder and Chairman of the Board, previously stated that the company aims to reach a market capitalization of around USD 1 billion upon listing on the Ho Chi Minh Stock Exchange (HOSE) in 2027.
Business Performance Update:
- As of the first half of 2025, F88 reported total revenue of VND 1,744 billion, representing a 30% year-over-year increase. Of this, revenue from pawn lending activities reached VND 1,521 billion, up 28% YoY. Revenue from insurance services and other sources came in at VND 199.6 billion and VND 6 billion, respectively, rising 45% and 360% over the same period thanks to expanded product coverage and effective cross-selling strategies.
- As of June 30, 2025, total outstanding principal balance stood at VND 5,543 billion, reflecting a 45.1% increase from the same time last year. In Q2, the Net Write-off to Average Loan Balance was recorded at 2.35%, down 62 basis points year-over-year.
- For detailed analysis of F88 business, please refer to our initial report here.
(EN) GTJASVN_F88 Equity Report_Trading on Upcom 8.8.2025 – Copy
