F88 becomes public company after being listed on UPCoM

On May 6, F88 announced that the State Securities Commission (SSC) had approved its application to become a public company. The company has a plan to list on UPCoM as early as July.

F88 is set to become Vietnam's first alternative financial services provider to list on the stock exchange. Alternative finance refers to financial solutions developed outside traditional banking systems.

“Becoming a public company marks an important milestone in F88’s development roadmap. We are moving towards registering for trading on UPCoM in the near future, underscoring F88's continuous efforts in information transparency and standardising corporate governance according to international standards. This will lay a solid foundation for F88 to realise its plan to list on the Ho Chi Minh City Stock Exchange (HoSE) in the future, bringing sustainable value to customers and shareholders,” said Phung Anh Tuan, founder and chairman of the Board of Directors of F88.

He further noted the milestone also reflects the development of Vietnam’s alternative financial market, as a business model like F88 has passed the strict standards of the SCC to be listed on the stock exchange.

Backed by foreign investment funds such as Mekong Capital, Vietnam Oman Investment, and Granite Oak, F88 has developed its network to nearly 900 stores nationwide after 12 years of operation. The company specialises in providing comprehensive financial services, including loans, insurance, and banking products, to underserved customers.

According to its financial report for the first quarter of 2025, F88’s loan disbursement had reached VND3.28 trillion ($126.3 million), up 25 per cent against the same period last year.

Moving forward, F88 aims to become a leading player in affordable finance, contributing to changing people's attitudes towards finance. F88 seeks to give people legal and transparent financial services that will help them live better lives.

"To facilitate the goal, the company needs to attract more capital from investors and financial institutions. This is achieved by adopting higher governance, business, and financial standards. Becoming a public company and listing on the stock exchange is the driving force for F88 to do so," Tuan said.

Besides long-term partners, F88 is working with a number of other domestic and international lending partners to diversify its capital sources in 2025. Alongside the business plan, the company has also formulated solutions for each business segment based on a strategic vision and sustainable values.

Furthermore, F88 will accelerate the digital transformation of its processes, making services faster and more transparent for millions of transactions smoothly and safely. The company also aims to increase revenue by about 30 per cent, and the total number of customers by over 30 per cent in 2025.

F88 partners with MB to transform over 850 financial stores into bank offices Military Commercial joint-stock bank (MB) and F88 signed a comprehensive cooperation agreement at MB's headquarters in Hanoi on December 16.

F88’s credit outlook upgraded following business advantages and improved asset quality FiinRatings upgraded F88’s credit rating outlook from 'Stable' to 'Positive’ on April 2, 2025, citing significant improvements in asset quality and the company’s strengthened leadership position in the alternative lending market.

F88 records positive asset quality and business performance in Q1 Following the strong recovery in 2024, F88 continues to fare well in the first quarter of 2025 with significant improvements in asset quality, revenue and profits.