Nasdaq To Support VNG Corporation In Exploring a U.S. Listing
(Thomson Reuters ONE) -
VNG is the first Vietnamese tech startup to explore a U.S. listing, signifying
the strong growth of entrepreneurship in South East Asia
NEW YORK, June 01, 2017 (GLOBE NEWSWIRE) -- Nasdaq and VNG Corporation signed a
memorandum of understanding to explore VNG's initial public offering (IPO)
opportunity on the Nasdaq Stock Market. VNG Corporation is Vietnam's leader in
value added services, developing and publishing online content, providing mobile
platforms and payment systems. Under the agreement, Nasdaq will work closely
with VNG to prepare for its listing on Nasdaq and support VNG's access to the
U.S. capital markets. Vietnamese Prime Minister Nguyen Xuan Phuc was also
present at the signing ceremony as part of his first visit to the U.S.
A photo accompanying this announcement is available
at http://www.globenewswire.com/NewsRoom/AttachmentNg/a4e672f7-fe44-401e-bfc5-
59bd71a62256
Vietnam has been fostering a vibrant entrepreneurial scene with an increase in
support of its startups and technology companies. Years of investment in
education by the government has helped improve the work force and increase
economic growth. Many startups and global technology enterprises are tapping
into the young tech-savvy population with a median age of just 30 years
old.(1) The Vietnamese e-commerce market is expected to grow 150% from $4
billion to $10 billion by 2022.(2)
"The agreement marks an important milestone for VNG, as we are taking another
step in making various systems and online products that enrich users' online
experience," said Le Hong Minh, CEO of VNG. "Vietnam's technology industry has
grown rapidly and drawn attention from investors around the globe. A successful
listing on Nasdaq will further our commitment in providing world-class online
services that revolutionize digital businesses."
"Innovation has always been a vital part of Nasdaq's heritage, and we are proud
to be the home to disruptive forces in the global technology sector," said Bob
McCooey, Senior Vice President, Listing Services, Nasdaq. "We are excited to
partner with VNG, Vietnam's first unicorn expected to list in the U.S., and look
forward to supporting the company's continued growth and access to the capital
markets."
The information contained above is provided for informational and educational
purposes only, and nothing contained herein should be construed as investment
advice, either on behalf of a particular security or an overall investment
strategy. VNG has not yet applied for listing on Nasdaq and Nasdaq has not
determined if VNG qualifies for listing. Information about VNG is provided by
the company and is not independently verified by Nasdaq. Neither Nasdaq nor any
of its affiliates makes any recommendation to buy or sell any security or any
representation about the financial condition of any company. Statements
regarding Nasdaq-listed companies are not guarantees of future performance.
Actual results may differ materially from those expressed or implied. Past
performance is not indicative of future results. Investors should undertake
their own due diligence and carefully evaluate companies before investing.
ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.
(1) "Vietnam's young tech talent pulls foreign funds to booming startup scene,"
Reuters, April 13, 2016
(2 )"Vietnam's e-commerce market set to swell 150% in 5 years," Nikkei Asian
Review, March 4, 2017
About Nasdaq
Nasdaq (Nasdaq:NDAQ) is a leading global provider of trading, clearing, exchange
technology, listing, information and public company services. Through its
diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and
execute their business vision with confidence, using proven technologies that
provide transparency and insight for navigating today's global capital markets.
As the creator of the world's first electronic stock market, its technology
powers more than 89 marketplaces in 50 countries, and 1 in 10 of the world's
securities transactions. Nasdaq is home to 3,800 total listings with a market
value of $11.0 trillion. To learn more, visit: http://business.nasdaq.com.
- NDAQG -
Media Relations Contacts:
Stephanie Lowenthal
(646) 441-5073
Stephanie.Lowenthal(at)nasdaq.com
Emily Pan
(646) 441-5120
emily.pan(at)nasdaq.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nasdaq via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 01.06.2017 - 18:18 Uhr
Sprache: Deutsch
News-ID 545896
Anzahl Zeichen: 5199
contact information:
Town:
New York
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 339 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Nasdaq To Support VNG Corporation In Exploring a U.S. Listing"
steht unter der journalistisch-redaktionellen Verantwortung von
Nasdaq (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
