VNG Ltd.

General Information

(Note: VNG Ltd. withdrew its plans for an IPO in an SEC filing dated Jan. 19, 2024. The Vietnamese company, which describes itself as the No. 1 mobile games publisher in Vietnam, filed its F-1 on Aug. 23, 2023, with the intent to offer 21.7 million shares in the IPO; it did not disclose a price range.)

We are Vietnam’s leading homegrown digital ecosystem, with diverse and competitive product offerings across games, communications and media, fintech and other opportunities. (incorporated in the Cayman Islands)

We are the No. 1 mobile games publisher in Vietnam, with our 2022 mobile game gross revenues representing 39.2% of Newzoo’s estimate for Vietnam’s mobile games market for 2022. Our Zalo, Zing MP3 and Bao Moi applications are the No. 1 messaging, music streaming and online news applications, respectively, in Vietnam based on MAU in 2022, according to F&S.

Founded in 2004 as a five-person start up, we have grown and evolved into a national technology champion with a large user base and high engagement in Vietnam. Our strong online game publishing capabilities have allowed us to extend our reach to countless users beyond Vietnam. Since the inception of our company, our mission has been to “Build technologies and grow people. From Vietnam to the world.” By adhering to our mission, we have become a Vietnamese technology unicorn.

We believe that we have achieved many “firsts” throughout our corporate journey. We pioneered the era of hardcore RPGs in Vietnam by publishing Legend of Swordsman on personal computer (“PC”) in 2005. We launched the first widely adopted communication application developed by a Southeast Asian technology company in 2012. We were the first Vietnamese company to successfully publish online games in a foreign market. We have strategically expanded into new business lines, including mobile payments in 2017 and cloud services in 2018.

*Note: Revenue and net loss figures are for the year ended Dec. 31, 2022.

(VNG Ltd. filed its F-1 on Aug. 23, 2023, and disclosed that it intends to offer 21.7 million shares in the IPO, but it did not state a price range.)

Employees: 3580
Founded: 2004
Contact Information
Address VNG Campus Lot Z06, St. 13 Tan Thuan Dong Ward, Dist. 7 Ho Chi Minh City, Vietnam +84 28-39623888
Phone Number +84 28-39623888
Web Address
View Prospectus: VNG Ltd.
Financial Information
Market Cap
Revenues $316.06 mil (last 12 months)
Net Income $-86.71 mil (last 12 months)
IPO Profile
Symbol VNG
Exchange NASDAQ
Shares (millions): 21.7
Price range $0.00 - $0.00
Est. $ Volume $100.0 mil
Manager / Joint Managers Citigroup/ Morgan Stanley/ UBS Investment Bank/ BofA Securities
Expected To Trade:
Status: Withdrawn
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change