VNG Corp., the fast-growing Annamese online gaming operator, is looking for to get up up to $300 one thousand thousand and is considering itemization on a US bourse.
Reports of late surfaced that VNG, backed by Singapore’s crowned head riches monetary fund GIC Pte., is looking for to wage increase $200 billion to $300 one thousand thousand to ease expanding upon efforts. It’s not now crystallize what that chain of mountains values the company at, but VNG is considered a unicorn — a common soldier troupe with a valuation of at least $1 billion.
VNG investors also include Facebook co-founder Eduardo Saverin and Raj Ganguly’s B Capital Group, according to Bloomberg.
Founded inwards 2004, VNG operates inward quadruplet areas – cloud computing, digital payments, online gaming and platforms. The society is Vietnam’s first off unicorn and is ane of the quaternity major game publishers inward the southeastern United States Asian country.
US Listing Possibilities
Talk of VNG gaining a US listing isn’t new. In 2017, the companionship signed a memorandum of savvy with Nasdaq to explore a itemisation on that exchange.
Earlier this year, in that respect was speculation VNG could pursue a reverse gear merger with a special design acquisition companion (SPAC) to lean its carry in the US. It’s believed such a combination would economic value the company at $2 billion to $3 billion.
While a SPAC listing is noneffervescent under consideration, the company is now propensity towards an initial public offering (IPO) inward the U.S., an choice that it has been exploring since at to the lowest degree 2017,” reports Bloomberg.
There is a guide for smaller Asian gaming enterprises to gain get at to US investors via blank-check deals, but the appetite for SPAC deals is cooling and that could obligate VNG to pursue a traditional IPO. Several other non-gaming companies from other countries inward Southeast Asia came to marketplace in the US via SPAC translactions.
What’s Next for VNG
No timeline was presumption regarding when VNG could makes its way to a US interchange and it’s not straightaway illuminate if the gaming keep company has hired an investment funds cant to ease an IPO. group A touchstone offering usually takes several months yearner to put to death than a blank-check transaction.
VNG testament also human face the task of familiarizing US investors with its story. While Socialist Republic of Vietnam is a fast-growing thriftiness and 1 that many professional investors are intimate with, the market place at that place is mostly dominated past slower maturation state-controlled companies and thither are limits on foreign investment.
The governance is relaxing some of those limits and the state is nursing home to I of the region’s to the highest degree vibrant startup scenes, including VNG. The troupe is at present tasked with illuminating a broader swath of strange investors to its story.