Business

Vietnamese internet startup VNG files for IPO in US

Vietnamese internet company VNG Corp, under trading code VNZ, has filed for an initial public offering (IPO) in the US via VNG Ltd, according to Reuters.
Vietnamese internet startup VNG files for IPO in US ảnh 1Based in Ho Chi Minh City, the VNG is operating businesses include online games, payments, cloud services and Zalo - a popular messaging app in Vietnam. (Photo: Internet)

Hanoi (VNA) – Vietnamese internet company VNG Corp, under tradingcode VNZ, has filed for an initial public offering (IPO) inthe US via VNG Ltd, according to Reuters.

The listing will make it the first technology firmfrom Vietnam to list in the US.

According to the VNG, it plannedto offer some 21.7 million shares, with the proposed price range yet to be set.

The IPO proceeds will be usedto pay original foreign investors who were direct shareholders of the company includingTencent (China) and Singapore's Temasek, and repay outstanding loans. Underwritersfor this IPO include Citigroup, Morgan Stanley, UBS Securities and BofASecurities.

Founded in 2004, the VNG wasVietnam's first unicorn or startup valued at 1 billion USD or more, and itinked a preliminary agreement in 2017 with US bourse operator Nasdaq Inc toexplore an IPO.

Based in Ho Chi Minh City, it is operating businessesinclude online games, payments, cloud services and Zalo - a popular messagingapp in Vietnam.

VNG's IPO follows the recentUS listing debut byVinFast VFS.O andcould help add momentum for other Southeast Asian companies seeking IPO inthe US.

In the session on August 24, shares of VNG - currentlylisted on UPCOM exchange with trading code VNZ - increased 12.78% to 1.244million VND (51.88USD) per share/.

VNA
#VietnamPlus #Vietnam News Agency #VNG #IPO #US listing #Zalo
Follow VietnamPlus

Related News

VN-Index hits 10-month high

VN-Index hits 10-month high

The benchmark VN-Index increased for the fourth consecutive trading session on July 26 to surpass 1,200 points, the highest in 10 months.
VinFast debuts on Nasdaq Global Select Market

VinFast debuts on Nasdaq Global Select Market

Vietnamese auto maker VinFast Auto Ltd. (VinFast) rang the bell to officially commence trading of its shares on the Nasdaq Global Select Market, the US, under the ticker symbol “VFS”.

See more

VinFast manufacturing facility in Haiphong city (Photo: Vingroup)

Vingroup among top 40 largest enterprises in Southeast Asia

This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.

Fresh Vietnamese lychees are being sold at an Aeon supermarket in Japan. (Photo: VNA)

Vietnam Goods Week opens in Japan’s Saitama prefecture

This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.

The Green Industries Summit 2025 aims to support the country’s transition toward sustainable industrial development. (Source: NordCham Vietnam)

Nordic firms eye green industry partnerships in Vietnam

According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.

Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong speaks at the 15th National Assembly’s 9th session. (Photo: VNA)

SBV Governor calls for overhaul of FDI attraction strategy to drive stronger growth

The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.

Buyers seek suppliers of globally standardised equipment at Automechanika, opened in HCM City on June 19. (Photo: VNA)

Vietnam’s auto parts and services expos open in HCM City

The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.

Fuel prices surge from 3pm on June 19 (Photo: VNA)

Fuel prices surge from 3pm on June 19

The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.

Vietnamese Ambassador to Germany Vu Quang Minh (right) thanks Selgros Lichtenberg CEO Marco Berger for creating conditions for Vietnamese agricultural products to reach German customers (Photo: VNA)

Vietnamese Goods Day promotes Bac Giang lychees in Germany

While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.

An article published by Cuba’s Inter Press Service (IPS) spotlights the promising results of a unique rice cooperation model with Vietnam, as Cuba ramps up efforts to improve national food security. (Photo: Screenshot)

Vietnam–Cuba rice partnership sets new model for sustainable food security: media

The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.

Algerian delegates explore Vietnamese products showcased at the event (Photo: VNA)

Vietnam seeks to expand trade ties with Algeria

During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.

A H&M store (Photo: Reuters)

Vietnamese firms eye new opportunities with Nordic partners

A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.

The Lao Bao (Vietnam) – Densavan (Laos) international border gate (Photo: VNA)

'Single-Stop' procedure at Lao Bao–Densavan border gate halted

Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.