Spending over $5.1 million to buy Vietnamese online retailer Tiki's shares, VNG now holds a 29 per cent stake, eight per cent higher than that of the second shareholder JD.com.
The number of startups invested doubled after one year, reaching 92 enterprises.
According to the resolution of the annual shareholders’ meeting of major Vietnamese information technology company VNG Corporation passed last week, it has set a target revenue of VND3.96 trillion (US$174 million), up 31 per cent over the previous year, and profit before tax of VND908 billion (US$40 million), up 34.7 per cent.
Cavico had to delist 10 years ago, an indication that it can be difficult for companies to enter foreign bourses.
Both Vietjet and VNG have said they want to be the first Vietnamese enterprises to list shares on foreign bourses. Other firms have tried to do so in the past.
Companies seek IPOs as Vietnam pushes bilateral ties following TPP setback.
Publication permit No. 348/GP-BTTTT dated July 19, 2017, granted by the Ministry of Information and Communications of the Socialist Republic of Vietnam
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