Vietnam tech unicorn VNG shares rally on market supply, demand: company
Tech giant VNG Corporation says its share price hit the ceiling for eight consecutive sessions due to stock market supply and demand and the tastes, needs and evaluations of investors.
VNG, registered on the Unlisted Public Company Market (UPCoM) as VNZ, explained the situation as required by rules in a letter sent to the State Securities Commission and the Hanoi Stock Exchange (HNX).
VNG Campus at Tan Thuan Export Processing Zone in District 7, HCMC. Photo courtesy of the corporation.
The corporation does not have any intervention or control over the recent stock price movements of VNZ, while its business activities remain normal, without any fluctuations from the increase in share price.
On the UPCoM, the VNZ share price hit VND893,400 ($37.88) per unit on February 10, up more than 270% after only eight sessions, while liquidity ranged from 100-300 shares.
Thanks to this series of galloping increases, the market capitalization of VNG has reached VND24,000 billion ($1.02 billion), nearly four times higher than the time it was registered on the UPCoM.
Founded in 2004 by Vietnamese businessman Le Hong Minh, 45 now, VNG is a leading technology services provider in Vietnam. It was officially valued at $1 billion in the World Startup Report, becoming the first unicorn in Vietnam.
VNG in January named Vo Sy Nhan its new chairman, replacing Le Hong Minh. Minh remains as general director of VNG.
VNG has a concentrated ownership rate with nearly 80% of capital held by major shareholders and a member of the board of management.
According to its information disclosure, as of November 28, 2022, VNG had three major shareholders: VNG Limited, headquartered in the Cayman Islands, holding 49% of charter capital or 61.1% of outstanding shares; BigV Technology Corporation with a 4.6% stake and accounting for 5.7% of outstanding shares; and Le Hong Minh, who owns a 9.8% stake and 12.3% of outstanding shares.
VNG reported a loss of more than VND1,315 billion ($56 million) in 2022, a record since its business indices went public for the first time and breaking its loss target of VND993 billion ($42.35 million).
The company's net revenue in the year reached VND7,800 billion ($332.63 million), up 2% year-on-year, according to its consolidated financial statement.
By the end of 2022, VNG's total assets were more than VND9,092 billion ($387.73 million), down 1% compared to the beginning of the year. Of this, long-term assets increased 2.2 times to VND4,313 billion ($183.93 million), mainly due to an increase of nearly VND910 billion ($38.81 million) in construction cost of VNG Data Center.
The center, a new data hub with the largest rack scale in Vietnam, opened in mid-December, 2022. Cash, cash equivalents and bank deposits were VND3,079 billion ($131.3 million).
In 2022, VNG poured more than VND1,000 billion ($42.64 million) into startups, but in the portfolio, only the investment in Dayone JSC - a data processing and leasing company - recorded a profit in the year.
As of December 31, 2022, the accumulated loss from VNG's investment reached VND643 billion ($27.42 million), of which the accumulated loss that VNG incurred from Tiki hit VND510 billion ($21.75 million), followed by Telio VND58 billion ($2.47 million), Funding Asia VND44 billion ($1.88 million) and Ecotruck VND24 billion ($1.02 million).
VNG's liabilities stood at VND3,758 billion ($160.26 million), while equity was VND5,333 billion ($227.42 million).
- Read More
Indonesia resumes int’l carbon trading after 4-year hiatus
Indonesian President Prabowo Subianto has issued a new decree to restart international carbon emissions trading after a four-year hiatus.
Southeast Asia - Thu, October 16, 2025 | 9:23 pm GMT+7
Investors seek 2-year delay for $2.56 bln LNG power project in northern Vietnam, citing equipment hurdles
Investors of a $2.56 billion LNG-fired power plant in Hung Yen province have proposed delaying the project’s commercial operation schedule by two years due to difficulties securing key equipment.
Energy - Thu, October 16, 2025 | 9:04 pm GMT+7
Vietnam to soon raise taxpayers' personal deduction: official
The personal income tax deduction in Vietnam is "very likely" to increase to VND21.7 million ($823,940) per month, including VND15.5 million (588,530) for the taxpayer and VND6.2 million ($235,410) for each dependent.
Finance - Thu, October 16, 2025 | 6:25 pm GMT+7
Business confidence climbs as reforms gain traction amid global headwinds: EuroCham Vietnam
The index climbed to 66.5, surpassing pre-tariffs level and reaching its highest in three years – showcasing resilience and adaptability amid global headwinds and evolving U.S. tariff pressures.
Economy - Thu, October 16, 2025 | 4:36 pm GMT+7
Vietnam's stock market watchdog suspends two Grant Thornton auditors
Vietnam's State Securities Commission (SSC) has suspended two auditors from Grant Thornton Vietnam after determining that the 2024 audited financial statements of Saigon Water Infrastructure Corporation (HoSE: SII) failed to meet required standards.
Finance - Thu, October 16, 2025 | 3:35 pm GMT+7
Law No. 56 a major policy breakthrough for Vietnam's stock market development
The Law No. 56, effective January 1, 2025, is one of the major legal breakthroughs in recent years that will enhance the transparency and operational efficiency of the Vietnamese stock market.
Finance - Thu, October 16, 2025 | 2:30 pm GMT+7
WHA Group breaks ground on smart technology industrial zone in central Vietnam
Thailand's WHA Group on Tuesday broke ground on a world-class, modern, and environmentally friendly industrial zone in central Vietnam, namely the WHA Smart Technology Industrial Zone-Thanh Hoa.
Real Estate - Thu, October 16, 2025 | 2:00 pm GMT+7
Vietnam a key partner in Murphy Oil’s global strategy: exec
Vietnam remains a key partner in Murphy Oil’s global business strategy, said Eric Hambly, the U.S. corporation's president and CEO.
Companies - Thu, October 16, 2025 | 12:06 pm GMT+7
VNPT, Qualcomm debut Vietnam’s 1st original design-based excellence center
State-owned Vietnam Posts and Telecommunications Group (VNPT) and Qualcomm have officially launched the VNPT-Qualcomm Excellence Center (VQEC), the first facility in the country to operate under an original design co-development model using Qualcomm’s core technologies.
Companies - Thu, October 16, 2025 | 8:41 am GMT+7
Indonesia enjoys steady growth in nine months
Indonesia's Ministry of Finance on Tuesday announced the country’s 2025 budget performance as of September, reporting that Southeast Asia’s largest economy continued to post steady growth despite global economic uncertainties.
Southeast Asia - Wed, October 15, 2025 | 9:53 pm GMT+7
Malaysia on progressive path towards AI nation status: experts
Malaysia is on a progressive track towards becoming an Artificial Intelligence (AI) nation by 2030, a goal seen as achievable under Budget 2026 - the Malaysian Government’s fiscal and policy framework for 2026.
Southeast Asia - Wed, October 15, 2025 | 9:44 pm GMT+7
Thailand steps up development of semiconductor industry
Thailand’s Board of Investment (BOI) plans to propose a new national semiconductor and advanced electronics policy board to the government, which will spearhead Thailand’s semiconductor development strategy.
Southeast Asia - Wed, October 15, 2025 | 9:40 pm GMT+7
ASEAN sets ambitious energy targets
Senior energy officials from ASEAN member nations and Timor-Leste on Tuesday convened in Kuala Lumpur, Malaysia, to finalize key outcomes and policy recommendations to be submitted to the 43rd ASEAN Ministers on Energy Meeting (AMEM).
Southeast Asia - Wed, October 15, 2025 | 9:33 pm GMT+7
Sun Group gets nod for $375 mln inland waterway tourism project in central Vietnam
A subsidiary of Sun Group, one of Vietnam’s leading real estate developers, has received approval to invest VND9.88 trillion ($375 million) in an inland waterway tourism project in the central coastal city of Danang.
Industries - Wed, October 15, 2025 | 5:21 pm GMT+7
Vietnamese luxury car dealer Haxaco’s business slumps, stock nears two-year low
The operations of Hang Xanh Automobile Service JSC or Haxaco (HoSE: HAX), known as the largest distributor of Mercedes-Benz vehicles in Vietnam, are under pressure as consumers tighten spending and competition among car brands intensifies.
Companies - Wed, October 15, 2025 | 5:13 pm GMT+7
Vietnam sets 2026 GDP growth target at 10%
The Vietnamese Government has set the targets for economic expansion in 2026 at about 10% and inflation at 4.5%.
Economy - Wed, October 15, 2025 | 4:28 pm GMT+7
- Consulting
-
Vietnam's International Financial Center ambition can unlock new wave of innovation
-
Vietnam’s rapid capital market reforms set to pay dividends in coming decades
-
VN-Index valuation might offer '15-20% upside' in next 12-18 months
-
Opportunities for breakthrough growth in industrial and residential real estate in Hanoi’s satellite provinces
-
The six-year switch: The rise of multi retirements
-
Formalizing Vietnam’s digital assets markets




















