The VNG Corporation, a major tech player from Vietnam, is gearing up to enter the public arena. Its subsidiary, VNG Limited, took a crucial step on August 24 by submitting a registration statement to the US Securities and Exchange Commission (SEC). This move sets the stage for VNG Limited to offer its Class A ordinary shares to the public through an IPO on Nasdaq with the ticker “VNG”.

The IPO will be backed by underwriters including Citigroup Global Markets, Morgan Stanley, UBS, and BofA Securities. The specific size and pricing details are yet to be determined.

The registration statement is subject to completion and has not yet been declared effective by the SEC.

Established in 2004, VNG has transformed from a small startup into Vietnam’s largest digital ecosystem, offering a range of products and services that have become integral to users’ daily lives. It is recognized as Vietnam’s leading mobile games publisher by Newzoo. The company also operates Zalo, the country’s top messaging app, with a user base of 75 million active users monthly, as reported by F&S. VNG first indicated an intention to list in the US around 2017.

Source: VNECONOMY