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VNG prepares for private placement to investors

Update: December, 14/2018 - 18:00
In the first nine months this year, VNG’s revenue reached VNĐ3.16 trillion, equivalent to the same period last year. Pre-tax profit reached VNĐ488 billion, down 52 per cent. — Photo cafef.vn
Viet Nam News

HÀ NỘI — Online game provider VNG corporation, formerly known as Vinagame, has approved a plan to sell a maximum of 360,000 treasury shares to investors under the form of private placement.

The minimum offering price is VNĐ1.06 million (US$45.4) per share.

VNG’s current chartered capital is more than VNĐ345 billion, equivalent to 34.5 million shares. Based on the approved minimum offering price, VNG is valued at VNĐ36.6 trillion, or $1.6 billion.

The shares are expected to be offered in the fourth quarter this year or in the first quarter next year. The amount of money earned from the sale, estimated to be at least VNĐ360 billion, will be used as working capital to expand and develop domestic and foreign markets or invest in other companies in the same field.

According to the company’s financial statement, in the third quarter of this year, VNG recorded net revenue of VNĐ1.09 trillion, slightly higher than the same period in 2017. However, due to an increase in expenses, its pre-tax profit fell to VNĐ180 billion, down 39 per cent year-on-year.

In the first nine months this year, VNG’s revenue reached VNĐ3.16 trillion, equivalent to the same period last year. Pre-tax profit reached VNĐ488 billion, down 52 per cent.

By the end of September, total assets of VNG reached VNĐ4.7 trillion, up 9.2 per cent compared with the beginning of this year. The majority of VNG’s assets are deposits at banks, worth VNĐ2.6 trillion, of which deposits with terms lasting from three months to less than one year account for 72 per cent.

The company’s equity was VNĐ3.9 trillion, up 11.9 per cent over the beginning of this year. Liabilities were estimated at VNĐ803 billion, down slightly by 2.3 per cent year-on-year. — VNS

 

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