DatViet VAC Group Holdings JSC plans to offer 11.15 million shares at VNĐ54,800 (US$2.09) each through an initial public offering to raise VNĐ611 billion ($23.38 million) to fund its core businesses.
The IPO, equivalent to more than 16 per cent of outstanding shares, is expected later this year, pending approval from the State Securities Commission.
In the first half of the year, the capital market had six successful IPOs, raising US$65 million, building on the vibrant market movements in the second half of 2021.
Escalating competition in the e-commerce, logistics and fast delivery sectors is causing players to speed up the IPO process. At the same time, the capital market is also witnessing multiple challenges, uncertainties and waiting for ''blockbuster'' IPO deals.
Ahead of its IPO, PT GoTo Gojek Tokopedia Tbk (GoTo), the largest digital ecosystem in Indonesia, has announced plans to allocate over US$20 million to driver-partners in Indonesia, Viet Nam and Singapore.