Vietnamese Tech Titan VNG Sets Sail for U.S. Listing Amid VinFast’s Market Triumph

Vietnamese tech leader VNG follows VinFast’s NY market debut with plans for a U.S. listing, aiming to offer around 22 million shares in an upcoming IPO. VNG, renowned for its diverse digital services including the popular Zalo messaging platform, has bold expansion goals across Southeast Asia, the Middle East, and Latin America.

Vietnam’s trailblazing internet giant, VNG, has embarked on a strategic move towards a U.S. listing, closely following the remarkable entrance of VinFast, an electric vehicle manufacturer, into the New York market.

With a founding year of 2004, VNG has built an extensive portfolio of services, ranging from music streaming and mobile payments to online gaming and messaging, including the widely embraced Zalo messaging platform boasting a staggering 75 million monthly active users. This pivotal step involves an impending initial public offering (IPO), where VNG seeks to issue approximately 22 million shares, pending determination of the price range, according to documents filed with the U.S. Securities and Exchange Commission.

The company, headquartered in Ho Chi Minh City, Vietnam’s commercial hub, also maintains an office in Thailand, functioning as a leading game publisher in the region. Bolstered by key shareholders like Chinese internet behemoth Tencent and Singapore’s state investor Temasek, VNG’s strategic vision extends towards an ambitious expansion throughout Southeast Asia, the Middle East, and Latin America, as expressed by its founders, Le Hong Minh and Vuong Quang Khai. – reference: AFP

Author: Terry KS

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