HCM CITY — Masan Consumer (UPCoM: MCH), a subsidiary of Masan Group, announced on Thursday its roadmap to list on the Ho Chi Minh Stock Exchange (HOSE) at the “MCH Roadshow: HOSE Listing & Growth Story”.

The company confirmed that the migration is scheduled for December 2025, underscoring its commitment to enhanced transparency, best-practice governance and long-term value creation.

MCH is currently traded on UPCoM at around VNĐ220,000 per share, making it one of the highest-priced stocks on the Vietnamese market.

For nearly three decades, Masan Consumer has built an ecosystem of brands that lead roughly 80 per cent of FMCG categories in Việt Nam, including fish sauce, soy sauce, chilli sauce, instant noodles, instant coffee and coffee-flavoured energy drinks.

According to Kantar Worldpanel, about 98 per cent of Vietnamese households use at least one Masan Consumer product.

Its five flagship brands – CHIN-SU, Nam Ngư, Omachi, Kokomi and Wake-Up 247 – each generate over US$100 million in annual revenue and account for roughly 70 per cent of incremental topline growth.

The company is also recognised for its innovation capability. While FMCG players typically require two years to launch new products, Masan Consumer completes the cycle within six to twelve months. Since 2002, it has launched more than 1,200 products with a 20 per cent success rate – four times the industry average. Innovation contributed around 20 per cent of revenue between 2017 and 2024.

Its distribution network covers around 500,000 traditional points of sale and 10,000 modern retail outlets. In 2024, the company introduced its direct distribution model (Retail Supreme), strengthening connections with retailers from urban to rural areas.

From 2017 to 2024, the company maintained strong and efficient financial performance: operating margins consistently above 23 per cent, and net profit growing at a compound rate of around 20 per cent per year from 2022 to 2024. These indicators reflect its resilience and ability to generate solid earnings through multiple market cycles.

In 2024, MCH recorded approximately $1.2 billion in revenue, reaffirming its position as one of Việt Nam’s largest FMCG companies. From 2018 to 2024, it distributed nearly $1.5 billion in cash dividends, demonstrating robust cash generation and a long-standing commitment to shareholder returns.

Masan Consumer is also advancing its “Go Global” strategy, expanding Vietnamese-branded products such as fish sauce, chilli sauce, phở and coffee to more than 26 countries. Overseas revenue grew around 16 per cent annually from 2022 to 2024, with an operating margin of about 30 per cent in 2024. International sales currently account for 5 per cent of revenue, with a medium-term target of 10–20 per cent.

Dr. Nguyễn Đăng Quang, chairman of Masan Group, said Masan Consumer enters the listing process with strong fundamentals: a solid brand portfolio, a clear premiumisation strategy, extensive distribution, robust finances and a talented leadership team. These pillars will continue driving sustainable value for consumers and shareholders in the years ahead.

Hoàng Nam, director of Research at Vietcap Securities, said the upcoming listing will create a major investment opportunity in the consumer goods sector, considered the “backbone” of the Vietnamese economy.

If the listing is completed in December 2025, MCH will become eligible for margin trading after about six months. The migration to HoSE will also increase its chances of being included in major indices – potentially from the first review cycle – including the VN30, which could attract capital inflows from ETFs and active funds, he added. — VNS