NASDAQ TO SUPPORT VNG CORPORATION IN EXPLORING A U.S. LISTING

VNG is the first Vietnamese tech startup to explore a U.S. listing, signifying the strong growth of entrepreneurship in South East Asia NEW YORK, June 2 (Bernama-GLOBE NEWSWIRE) -- Nasdaq and VNG Corporation signed a memorandum of understanding to explore VNG’s initial public offering (IPO) opportunity on the Nasdaq Stock Market. VNG Corporation is Vietnam’s leader in value added services, developing and publishing online content, providing mobile platforms and payment systems. Under the agreement, Nasdaq will work closely with VNG to prepare for its listing on Nasdaq and support VNG’s access to the U.S. capital markets. Vietnamese Prime Minister Nguyen Xuan Phuc was also present at the signing ceremony as part of his first visit to the U.S. A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/a4e672f7-fe44-401e-bfc5-59bd71a62256 Vietnam has been fostering a vibrant entrepreneurial scene with an increase in support of its startups and technology companies. Years of investment in education by the government has helped improve the work force and increase economic growth. Many startups and global technology enterprises are tapping into the young tech-savvy population with a median age of just 30 years old.1 The Vietnamese e-commerce market is expected to grow 150% from $4 billion to $10 billion by 2022.2 “The agreement marks an important milestone for VNG, as we are taking another step in making various systems and online products that enrich users’ online experience," said Le Hong Minh, CEO of VNG. “Vietnam’s technology industry has grown rapidly and drawn attention from investors around the globe. A successful listing on Nasdaq will further our commitment in providing world-class online services that revolutionize digital businesses.”  http://mrem.bernama.com/viewsm.php?idm=29281