DatVietVAC IPO subscriptions exceed 100% of offer

DatVietVAC IPO subscriptions exceed 100% of offer

The initial public offering of media company DatViet VAC Group attracted subscriptions exceeding 100 per cent of the shares on offer when it closed on September 7.

A concert organised by DatVietVAC. Its IPO has attracted strong demand, with subscriptions exceeding 100 per cent of the offer. —  Photo courtesy of the company

The initial public offering of DatViet VAC Group Holdings JSC, Việt Nam's leading media, entertainment, and advertising technology company, attracted subscriptions exceeding 100 per cent of the shares on offer when it closed on September 7.

Vietcap Securities JSC, the IPO’s adviser and distribution agent, said nearly 1,700 investors have registered to buy shares.

DatVietVAC offered 11.15 million shares, equivalent to about 10 per cent of its outstanding shares, at VNĐ54,800 each (US$2.1).

The IPO is expected to raise VNĐ611 billion ($23.5 million), implying a market capitalisation of VNĐ6.1 trillion.

The proceeds will be used to provide working capital for the company’s subsidiaries, including VNĐ537 billion to DatViet VAC Media and VNĐ74 billion to DatViet VAC Entertainment, to support content production capabilities and the media services system.

According to Vietcap, the IPO price is 33 per cent below its independent valuation of VNĐ81,716 per share, implying a forward price-to-earnings ratio of around 13 times.

This compares favourably with media and entertainment companies in Southeast Asia and Asia, where the average P/E is 18.1 times and the median is 16.1 times.

DatVietVAC is entering the capital market with two complementary business segments: Media Services, which maintains relationships with clients, brands and funding sources; and Content, which creates programmes, artists, and intellectual property for further commercialisation.

DatVietVAC owns more than 2,000 IP assets, including entertainment formats, music works, films, application designs, and other proprietary content.

Among its flagship proprietary entertainment IPs are Anh Trai “Say Hi”, Em Xinh “Say Hi”, Rap Việt, The Masked Singer Vietnam, and 2 Days 1 Night Vietnam.

According to company figures, the ecosystem has around 270 million followers and 67 billion views and listens.

It aims to monetise its IP through a 360-degree model spanning content production, advertising, concerts, franchising, merchandise and music on digital platforms.

DatVietVAC targets revenues of VNĐ3.4 trillion and profit after tax of VNĐ420 billion in 2026.

By 2030, it aims to increase them to VNĐ5 trillion and VNĐ780 billion.

The IPO allocation is expected on September 8-9.

The shares are expected to be listed on HOSE in October 2026. 

Bizhub