The Business Times
business-time-50
SUBSCRIBERS

IPO for Vietnam’s VNG may be tough sell in US

Unique corporate structure, sluggish growth and fintech losses may turn investors off

google-preferred-sourceAdd BT as a preferred source
Published Thu, Sep 7, 2023 · 09:00 AM
    • A man using Zalo, a messaging app owned by Vietnamese Internet startup VNG, on his mobile phone in Hanoi. Zalo has 75 million monthly active users, accounting for 75 per cent of the population.
    • A man using Zalo, a messaging app owned by Vietnamese Internet startup VNG, on his mobile phone in Hanoi. Zalo has 75 million monthly active users, accounting for 75 per cent of the population. PHOTO: AFP

    AFTER years of flirting with a US initial public offering (IPO), VNG Corporation has finally filed for a Nasdaq listing.

    The company started out as VinaGame in 2004. Much like Singapore-headquartered Sea, which also has its roots in gaming, VNG has expanded to other verticals spanning financial services, social media and messaging, and cloud services.

    Unlike Sea, it still serves its local market – and that might not be attractive enough to some foreign investors.

    VietnamAseanStartupsTechnology businesses

    TRENDING NOW

    Beijing has said that the measures are designed to clean up the capital market and steer investors towards regulated channels for overseas investment.

    China traders rush for exit after cross-border flow crackdown

    Sats pays out 30% to 40% of its net profit as dividends to balance rewarding shareholders with capturing investment opportunities.

    Sats may reward shareholders with special dividend if there’s spare cash

    The CSRC is leading the effort, along with the National Financial Regulatory Administration, which handles consumer protection and supervises banks.

    Why China is tightening controls on overseas stock trading

    KSL's Khoo Lee Feng says it is "not so much what you study, but how you learn".

    Johor property old hand KSL readies family handover amid market boom

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More