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Company leaders at Vietnamese tech unicorn VNG Corporation have had time to prepare for their U.S. listing, but declining business results have become a significant obstacle to the ambitions of chairman Le Hong Minh and his colleagues.
Vietnam’s first unicorn, VNG Corporation, is understood to have delayed its IPO in the US until April 2024, DealStreetAsia has learnt.
VNG, one of four tech unicorns in Vietnam, will suspend the offering of over 7.1 million treasury shares to the BigV Technology Corporation.
VNZ shares of VNG, a tech unicorn, were added to the restricted trading list after the company was late in submitting its financial report. The VNZ price has plummeted by 45 percent from its peak, but is still the highest-priced in the stock market.