Vietnamese electronics retail chain Dien May Xanh 9dmx0, a unit of retail giant Mobile World Investment Corp, has filed an application to list nearly 1.27 billion shares on the Ho Chi Minh City Stock Exchange (HoSE).
This development follows the company’s initial public offering this year, to raise around $505 million. The offering marks one of the largest listings in Vietnam in the past two years.
HoSE said it received the listing dossier on July 13, after the retailer’s IPO attracted subscriptions for more than 166 million shares, representing around 93% of the total offering.
Under the issuance plan, DMX offered over 179.5 million shares at VND 80,000 per share, marking one of the largest IPO transactions on the Vietnamese stock market in 2026. Consequently, compared to the initial offering plan, DMX has approximately 14 million shares remaining (equivalent to 7.5% of the offering) that investors did not subscribe.
DMX is expected to begin trading on HoSE in August, with an estimated market capitalisation of more than VND 100 trillion ($3.9 billion) at the IPO price, making it one of Vietnam’s largest listed retailers by market value.
The company said the listing could pave the way for future inclusion in major benchmark indices and exchange-traded funds (ETFs), potentially supporting additional passive foreign inflows and improving trading liquidity.
For the first six months of the year, DMX reported consolidated revenue of VND 65.279 trillion ($2.55 billion), up 31% year on year and equivalent to 53% of its full-year target.
The company claims that its flagship Dien May Xanh electronics chain contributed 67% of total revenue. Despite halting store expansion, the company’s domestic retail brands continued to post double-digit revenue growth, with TopZone up 36%, Dien May Xanh up 32%, and The Gioi Di Dong up 28% year-on-year.
