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Vietnam Holding
(LSE:VNH)
Vietnam Holding (VNH) vs. iShares MSCI United Kingdom ETF (EWC)
Vietnam Holding Business Overview & Revenue Model
Vietnam Holding Financial Statement Overview
| Breakdown | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 | Jun 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 19.74M | 30.99M | -4.81M | -3.40M | 103.98M |
| Gross Profit | 16.89M | 30.99M | -4.81M | -3.40M | 103.98M |
| EBITDA | -3.02M | 0.00 | 0.00 | -7.72M | 0.00 |
| Net Income | -3.02M | 26.52M | -8.62M | -7.72M | 100.15M |
Balance Sheet | |||||
| Total Assets | 118.53M | 140.39M | 116.19M | 129.18M | 200.42M |
| Cash, Cash Equivalents and Short-Term Investments | 4.53M | 2.89M | 1.75M | 8.16M | 6.03M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 818.16K | 239.81K | 931.86K | 355.28K | 4.34M |
| Stockholders Equity | 117.71M | 140.15M | 115.26M | 128.82M | 196.08M |
Cash Flow | |||||
| Free Cash Flow | -2.22M | 3.30M | -1.35M | 61.74M | 24.83M |
| Operating Cash Flow | -2.22M | 3.30M | -1.35M | 61.74M | 24.83M |
| Investing Cash Flow | 25.03M | 0.00 | 0.00 | 0.00 | 0.00 |
| Financing Cash Flow | -20.86M | -1.88M | -4.69M | -59.54M | -21.36M |
Vietnam Holding Technical Analysis
Vietnam Holding Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | £119.12M | 21.20 | 1.79% | 3.29% | -9.37% | ― | |
62 Neutral | £18.46M | 4.02 | 16.48% | ― | -79.36% | 78.16% | |
48 Neutral | £1.45M | -2.93 | -37.63% | ― | -100.66% | 84.15% | |
42 Neutral | ― | -38.09 | ― | ― | ― | ― | |
42 Neutral | £7.11M | -15.13 | -11.98% | ― | ― | 6.25% | |
40 Underperform | $1.02M | -0.04 | ― | ― | -96.59% | 93.69% |
Vietnam Holding Corporate Events
VietNam Holding Limited has repurchased 30,187 of its own ordinary shares at an average price of 387.29 pence, as part of its ongoing share buyback activities. Following this transaction, the company has 19,085,890 ordinary shares in issue with voting rights and holds a further 455,476 shares in treasury, bringing total repurchases since the last annual general meeting to 177,890 shares.
The latest buyback underscores the board’s continued use of share repurchases as a capital management tool, potentially supporting net asset value per share and providing liquidity to shareholders. The transaction, disclosed under Market Abuse Regulation requirements, reflects active stewardship of the company’s capital structure in the context of its Vietnam-focused investment mandate.
VietNam Holding Limited has reported that, as of 28 February 2026, it has 19,116,077 ordinary shares in issue with voting rights and a further 425,289 shares held in treasury. This disclosure sets the official denominator for investors assessing whether they must report holdings or changes in their interest in the company under FCA transparency rules, helping maintain accurate ownership monitoring and regulatory compliance in the market.
Vietnam’s economy entered 2026 with strong momentum, as exports surged nearly 30% year-on-year in January, imports jumped on industrial demand, and factory PMI remained firmly in expansion, while retail sales growth and a stronger dong underpinned domestic stability. Equity markets saw healthy liquidity and sector rotation, particularly into state-owned enterprises following reform signals, even as high-flying Vingroup corrected.
Against this backdrop, VietNam Holding’s net asset value per share rose 4.9% in January, significantly beating key Vietnamese indices by leaning into domestic consumption and banking stocks. The manager highlighted attractive valuations, growing digital banking penetration and increased exposure to larger, more liquid names as positioning the fund to benefit from Vietnam’s next phase of disciplined, efficiency-led growth.
VietNam Holding Limited has repurchased 30,000 of its own ordinary shares at an average price of 394 pence per share, continuing its ongoing buyback activity. Following this transaction, the company now has 19,116,077 ordinary shares with voting rights in issue and holds a further 400,289 shares in treasury.
Since its last Annual General Meeting, VietNam Holding has cumulatively bought back 147,703 ordinary shares, underlining an active capital management strategy aimed at optimizing its share structure. The announcement, made in line with market abuse regulations, may signal management’s confidence in the company’s valuation and provides an incremental benefit to remaining shareholders through a reduced free float.
Vietnam Holding Limited, a London-listed fund investing in Vietnamese equities, focuses on companies poised to benefit from the country’s export strength and reform-driven expansion. The vehicle offers foreign investors a route into Vietnam’s relatively underowned market as the country advances toward emerging market classification.
A new research note from QuotedData highlights that Vietnam has largely absorbed the impact of U.S. tariffs and is pursuing reforms to support its goal of double-digit annual GDP growth through 2030. Despite a strong 2025 rally in a key comparator index, Vietnam Holding’s portfolio remains attractively valued with a forecast P/E of 9.5 times, as foreign investors have yet to return in force and an FTSE Russell upgrade later this year could support further re-rating of Vietnamese equities.
The research also notes that much of the benchmark’s 2025 surge was driven by a single stock not held by Vietnam Holding, underscoring the fund’s differentiated positioning. With the “Year of the Fire Horse” seen as auspicious by some investors and Vietnam’s fundamentals remaining robust, the note suggests a favorable backdrop for long-term capital deployment into the Vietnamese market via vehicles such as Vietnam Holding.
VietNam Holding Limited has repurchased 25,000 of its own ordinary shares at an average price of 393.26 pence per share, as part of its ongoing capital management strategy. Following this latest buyback, the company has 19,146,077 ordinary shares with voting rights in issue and 395,289 shares held in treasury, bringing total repurchases since its last Annual General Meeting to 117,703 shares, a move that may support net asset value per share and signal confidence in the company’s valuation to existing shareholders.
VietNam Holding Limited reported a 1.6% NAV gain for December 2025, as Vietnam capped a year of 8% GDP growth—strongest in Southeast Asia—underpinned by robust exports, record FDI inflows, and accelerated public investment and infrastructure development. While the VN-Index finished near all-time highs, performance was highly concentrated in a few mega-cap stocks, with VNH’s returns driven by strong advances in holdings such as Vinhomes, Mobile World and MB Bank, yet held back in relative terms by its underweight in non-held giant Vingroup. The manager notes that Vietnam’s macro backdrop for 2026 remains compelling, with manufacturing in expansion, inflation contained and a shift toward higher-value, innovation-led sectors expected to support earnings growth, while VNH continues to position its portfolio for the country’s structural growth story rather than short-term index moves.
VietNam Holding Limited has continued its share buyback programme, purchasing 25,000 of its own ordinary shares on 9 January 2026 at an average price of 385 pence per share. Following this transaction, the company has 19,171,077 ordinary shares in issue with voting rights and holds 370,289 shares in treasury, bringing total repurchases since its last annual general meeting to 92,703 shares, a move that may support earnings per share and signal confidence in the company’s valuation.
VietNam Holding Limited has repurchased 25,000 of its own ordinary shares at an average price of 366 pence per share, bringing the total number of shares with voting rights in issue to 19,196,077 and treasury shares to 345,289. Since its last Annual General Meeting, the fund has bought back 67,703 shares in total, a capital management move that may support its share price, enhance net asset value per share for remaining investors, and signal confidence in the company’s prospects.
Vietnam Holding Limited issued its November investor report, highlighting Vietnam’s economic progress and capital market evolution. Key highlights include significant IPO activity raising $1 billion in November, GDP growth of 8.2%, trade surplus and rising FDI levels, positioning Vietnam favorably in emerging market updates. Despite a modest portfolio decline in November, the company’s year-to-date performance remains strong, driven by banking growth, consumer expansion, and industrial investments. These developments, coupled with market upgrades and adherence to global standards, place Vietnam among key investment destinations and emphasize long-term growth opportunities.
Vietnam Holding Limited issued a correction to a prior announcement concerning share buybacks, disclosing previously omitted details of four separate transactions. The correction updates voting rights and clarifies the number of treasury shares held. This adjustment ensures compliance with disclosure rules and provides transparency to stakeholders, highlighting ongoing adherence to governance standards while maintaining shareholder confidence.
Vietnam Holding Limited, an investment company, announced the repurchase of 19,667 of its own ordinary shares at an average price of 371 pence per share. This transaction increases the total number of shares repurchased since the last Annual General Meeting to 42,703. This move is part of the company’s ongoing strategy to manage its share capital effectively, potentially impacting its market positioning and shareholder value.