Allen & Overy is advising Vietnamese internet company VNG on its planned IPO on the Nasdaq, with Skadden, Arps, Slate, Meagher & Flom and Vilaf acting for the underwriters. The listing is expected to raise $150 million.

The IPO will make VNG the first technology firm from Vietnam to list in the U.S., Reuters reported, adding that proceeds will be used for general corporate purposes, repayment of outstanding borrowings and donations, among others.

Founded in 2004, VNG is Vietnam's first unicorn, with its businesses including online games, payments, cloud services, and the country's most popular messaging app, Zalo.

The VNG IPO is set to come shortly after Vietnamese EV maker VinFast made its debut on the New York Stock Exchange via a SPAC merger.


Related Articles

Skadden, AMT, MHM, Davis Polk advise on Trial Holding’s $258 mln Japan IPO

by Nimitt Dixit |

Skadden, Arps, Slate, Meagher & Flom and Anderson Mori & Tomotsune have advised Japanese discount-store chain operator Trial Holdings on its $258 million initial public offering on the Tokyo Stock Exchange (TSE), the largest IPO of the year so far.

Cleary, Freshies lead on China shoemaker’s planned $1 bln HK IPO

by Rowena Muñiz |

Cleary Gottlieb Steen & Hamilton and JunHe are advising Chinese footwear and apparel maker Belle Fashion Group on its planned Hong Kong IPO that is set to raise between $500 million and $1 billion. Freshfields Bruckhaus Deringer and Haiwen & Partners are representing the joint sponsors.

INDIA REPORT: Capital Times on D-Street

by Nimitt Dixit |

It’s been a record-setting year for India’s IPO market, and law firms have reaped the benefits, representing issuing companies and lead managers. And the party isn’t expected to end any time soon: Lawyers believe there is a lot more is to come in 2024 despite the upcoming general elections.