VNG, a diversified platform focused on gaming and media in Vietnam, withdrew its plans for an initial public offering on Monday. It originally filed in August 2023 with a proposed deal size of $100 million. In its withdrawal statement, the company indicated that it planned to refile in the future.
The Ho Chi Minh City, Vietnam-based company was founded in 2004 and booked $313 million in revenue for the 12 months ended June 30, 2023. It had planned to list on the Nasdaq under the symbol VNG. Citi, Morgan Stanley, UBS Investment Bank, and BofA Securities were set to be the joint bookrunners on the deal.
