DMX's billion-dollar IPO is attracting significant investor interest, underpinned by two compelling disclosures: a commitment to distribute cash dividends immediately upon listing, and the revelation of a high-margin ancillary business segment that has been sustaining strong profitability. 

At the 27 May investor briefing, DMX's management disclosed a detail that drew considerable investor attention. Upon completion of the expected HOSE listing in early August 2026, the Company intends to distribute a cash dividend at 40% of par value - equivalent to VND 4,000 per share - representing a dividend yield of 5% relative to the IPO offer price of VND 80,000 per share. 

40% of Par Value Cash Dividend to Be Distributed Promptly Upon Listing 

CEO Doan Van Hieu Em indicated that the funding source for this dividend distribution is accumulated retained earnings built up over the Company's operating history. He noted that the immediate distribution is a deliberate signal of appreciation and a tangible commitment to shareholders who participate in the IPO. 

Beyond the initial distribution, DMX has formalised a long-term dividend policy committing to a minimum annual cash payout of 50% of NPAT for subsequent financial years. 

DMX entered the IPO as a strategically significant subsidiary within the MWG ecosystem, operating a nationwide network of over 3,000 stores. The offering comprises approximately 15% of the Company's shares - equivalent to 179.5 million ordinary shares - targeting gross proceeds of USD 600 million. Upon successful listing, the implied market capitalisation would reach approximately USD 3.9 billion, equivalent to over VND 100,000 billion. 

Per the Company's disclosure, the projected FY2026 P/E at the offer price ranges between approximately 10x and 12x. Management noted that Southeast Asian retail peers typically trade at average P/E multiples of 25x to 35x - implying material re-rating potential for DMX shares from the current offer price.

Notably, CEO Doan Van Hieu Em personally subscribed for 2 million shares on the opening day of the subscription period - 27 May - a direct signal of management conviction in the offering.