Thu Huong Le · · 1 min readVNG sees no transactions yet on first day of trading
Not a single transaction transpired on the first day of trading for tech major VNG on Vietnam’s Unlisted Public Company Market (UPCoM).
VNG campus in Ho Chi Minh City / Photo credit: VNG
As previously reported, about 35.8 million shares of VNG – the country’s first tech unicorn – started trading on UPCoM today under the ticker symbol VNZ. UPCoM is the board for firms not yet listed on the Hanoi Stock Exchange.
The reference price is 240,000 dong (US$10.22) apiece. At the time of writing, the shares are still “freezing” regarding liquidity despite investors showing their interest to purchase over 113,000 of the company’s shares.
According to VNG’s prospectus, CEO Le Hong Minh holds more than 3.5 million shares. Meanwhile, Vuong Quang Khai, VNG’s vice president of web business and the creator of messaging app Zalo, has about 1.4 million shares.
See also: Why Vietnam is missing out on SEA’s IPO party
Currency converted from Vietnamese dong to US dollar: US$1 = 23,475 dong.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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