Over the last year, Vietcap Securities proved to be that rare thing: a local investment bank that can pull off complex deals in even the most volatile of market environments – and do so independently.

For most local peers, executing multi-tranche debt sales or big initial public offerings is a very heavy lift. The big international names tend to lack the necessary operating licences and skilled execution teams on the ground in Vietnam.

This creates a void that Vietcap is happy to fill. It is a top-three player by market share among brokerage firms on the main board of the Ho Chi Minh City Stock Exchange. The investment banking team led by Vinh-Tuan Ngo has built strong and enduring relationships.

These help Vietcap to play a pivotal role in attracting capital to Vietnam. It is ranked first in handling foreign flows, with a 25% market share. It is also a well-established, top-seven player in the local retail brokerage market. The firm has an extensive global blue-chip client base, market-leading technology, a strong execution track record and insightful research.

The bank is renowned for execution among the larger international banks. Vietcap was among the first banks in the country to introduce a cross-culture, department-level management team combining overseas expertise and local knowledge. More than 50% of its employees are foreigners who have studied and worked abroad, and this breadth of experience adds to the bank’s appeal.

Vietcap has executed transactions in a wide range of industries and sectors: consumer and retail, natural resources, healthcare and industrials, real estate, technology, media and telecom and financial institutions. It has helped a who’s-who of local companies list their shares: VietJet Air, PV Gas, Masan Resources, Mobile World, Masan Group, Techcombank, VPBank, Dat Xanh Services, Novaland Real Estate, Vinamilk, Minh Phu Seafood Corporation and Yola Education, among others.

Last year, investment banking revenue rose 28% year on year, to D431 billion ($18.3 million), while profit before tax was D342 billion, up 48%. Notable deals include advising the founding shareholders of the Phuc Long beverage chain on the sale of a controlling stake to Masan Group; Masan Meat Life’s transfer of its animal feed business to De Heus Vietnam; Phu Nhuan Jewelry’s private placement; and Hung Thinh Group’s acquisition of Song Tien Corporation.

Source: Euromoney

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