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Vietnamese internet startup VNG files for IPO in the US

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SINGAPORE (Reuters) - Vietnamese internet company VNG Corp has filed for an initial public offering (IPO) in the United States via VNG Ltd, a U.S.

The listing will make VNG the first technology firm from Vietnam to list in the U.S.

IPO proceeds will be used to pay original foreign investors who were direct shareholders of the company and repay outstanding loans, among others, the filing showed. Founded in 2004, VNG was Vietnam's first unicorn, or startup valued at $1 billion or more, and it inked a preliminary agreement in 2017 with U.S. bourse operator Nasdaq Inc to explore an IPO.

 

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Internet Startup VNG Files to Become First Vietnam Tech Firm to Go Public in USInternet startup VNG Ltd. filed for an initial public offering in the US, making it the first Vietnamese technology company to seek a listing in New York and adding to a diversifying roster of companies planning listings as equity markets thaw.
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