Tech firm VNG eyes $3 bln US listing

Fri, Aug 13, 2021, 08:55:00

VNG Corp is considering going public in the U.S. through a merger with a blank-check company, which could put its valuation at $2-3 billion.

The logo of VNG Corp is seen in its office. Photo courtesy of VNG.

VNG Corp is considering going public in the U.S. through a merger with a blank-check company, which could put its valuation at $2-3 billion.

The online gaming and technology firm is working with financial advisers to hold discussions with special purpose acquisition companies for a potential deal, Bloomberg said, citing "people familiar with the matter."

A blank-check or special purpose acquisition company is set up mainly to help another private company go public without going through the traditional initial public offering process.

A VNG spokesperson said no decision on an IPO has been made.

VNG has been considering a potential Nasdaq listing since at least 2017.

The company was founded in 2004 and so far its products have been used by over 80 million people.

It also operates Vietnam’s popular messaging app Zalo.