- Founded in 2013, F88 has grown into Vietnam’s largest tech-enabled pawnshop chain, serving over 3.4 million customers through a network of 888 standardized stores nationwide. In H1 2025, total disbursement reached VND7,146bn (+36% YoY), total revenue was VND1,742bn (+29%), and H1 2025 PBT was VND321bn (+214% YoY).
- At its 2025 shareholders’ meeting, F88 set strong growth targets with PBT of VND673bn (+50% YoY; H1 2025 completed 48% of the target). Given the growth momentum in H1 2025 and favorable business conditions, we believe management’s guidance is achievable.
- F88 will list on UPCOM on August 8 at VND634,900/share, with a 1:12 stock dividend plan approved and expected to be executed shortly after listing.
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