NOT FOR DISTRIBUTION IN OR INTO OR FROM THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
HO CHI MINH CITY, Vietnam, Aug. 24, 2023 /PRNewswire/ -- VNG Corporation ("VNG" or the "Company"), a leading technology company in Vietnam, today announced that VNG Limited has filed a Form F-1 registration statement with the United States Securities and Exchange Commission (the "SEC"). VNG Limited, a shareholder of VNG, intends to list its Class A ordinary shares on the NASDAQ Global Select Market through an initial public offering ("IPO") under the symbol "VNG".
Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, UBS Securities LLC and BofA Securities, Inc. will act as underwriters of the IPO. The size and price range for the potential offering have yet to be determined.
Founded in 2004, VNG has evolved from a five-person start-up into the largest homegrown digital ecosystem in Vietnam with products and services ingrained in users' daily lives. VNG is, according to Newzoo, the number one mobile games publisher in Vietnam looking to expand globally and, according to F&S, operates the number one messaging application, Zalo, in Vietnam, with 75 million monthly active users. The Company's other flagship products include Zing MP3 (the number one music streaming platform in Vietnam, according to F&S, with more than 28 million monthly active users), and ZaloPay (the fastest growing mobile payment application in Vietnam, according to F&S).
The Form F-1 registration statement is subject to completion and has not yet been declared effective by the SEC.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States or in any other jurisdiction. The Class A ordinary shares may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933 ("Securities Act") unless they are offered or sold in transactions exempt from, or not subject to, such registration requirements. Any public offering of such securities to be made in the United States will be made by means of an effective registration statement that may be obtained from VNG Limited which will contain detailed information about the company and management, as well as financial statements. This press release is being issued pursuant to and in accordance with Rule 135e under the Securities Act.
Founded in 2004, VNG is a leading homegrown digital ecosystem in Vietnam, with diverse products and services through four key business segments: Games, Communications and Media, Fintech and Long-term Opportunities. Its mission is to "Build technologies and grow people. From Vietnam to the world." Its flagship products have transformed the way millions of users experience and interact with the online world, in Vietnam and globally. Today, VNG has approximately 4,000 employees across 10 cities around the world. For more information, please visit: https://vng.com.vn/.
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