Vietnam stock market sees Kosy crash and structural reorganization

The Vietnamese stock market is undergoing significant shifts. Kosy Joint Stock Company (KOS) has experienced a severe decline, with its stock price falling for 18 consecutive sessions, including 16 sessions at the floor price. This has resulted in a loss of over 5,000 billion VND in market capitalization, bringing the company's value below 2,100 billion VND. Chairman Nguyen Viet Cuong and related entities have previously engaged in stock sales, while a relative has registered to purchase 8 million shares.

On a structural level, the Vietnam Stock Exchange announced plans to reorganize the market by transferring all listed stocks from the HNX to the HOSE by the end of December 2026. This move aims to improve liquidity and investor access.

In corporate news, HD Securities (HDS) has nominated former German Deputy Chancellor Philipp Roesler as an independent board member candidate ahead of its planned IPO in Q4 2026. Meanwhile, HVS Vietnam Securities reported a surge in Q3 2026 profits, with net profit after tax increasing by 387% year-on-year, primarily driven by interest from held-to-maturity investments. Additionally, a board member of TNH Hospital Group has divested their entire 3.2% stake in the company.