Tuesday, 30/05/2017 17:32 (GMT+7)
(CPV) - For the very first time, a Vietnamese Start-up company will list on the world’s second largest stock exchange (NASDAQ), marking the first step toward promoting the industrial revolution 4.0 by the Government.
The agreement was inked on May 30th (morning Vietnamese time), on the sidelines of Vietnamese Prime Minister Nguyen Xuan Phuc's visit to the US, the first by a Southeast Asian leader since Donald Trump became US President.
Mr Le Hong Minh(fourth from left) at the MoU signing with Nasdaq under the witness of PM Nguyen Xuan Phuc (Photo: Bich Chau/VNG)
Mr Le Hong Minh and Mr Robert McCooey at the ceremony (Photo: Bich Chau/VNG)
According to Mr Le Hong Minh, CEO of VNG, the proposed IPO would make VNG the first local firm to list overseas. And, it will meet the listing standards on NASDAQ and is working to make the listing happen in the near future, thus drawing attention from global tech and finance industries to Vietnam.
Mr Robert McCooey, Vice President of the American stock exchange, spoke highly of VNG as a “symbol for the Vietnamese economy” and pledged to facilitate its listing on the bourse.
NASDAQ, the listing home to global tech majors such as Apple, Microsoft, Google, Facebook and Ebay, has a market capitalisation of USD7.8 trillion.
VNG was founded in 2004 as a game publisher, but has since evolved into an ecosystem of digital content, social apps, software and e-commerce. Its Zing online video and music streaming services are very popular in the country, while Zalo messaging app has gained a significant user base of 70 million people. It now hires 2,000 employees.
Last year, VNG recorded VND3 trillion in revenue and VND543 billion in net profit./.
ATP