DatVietVAC Group Holdings announced an initial public offering of 11,15 million shares, representing approximately 11% of its outstanding shares. The offering price is 54.800 dong per share, which is lower than the 81.716 dong valuation stated in the appraisal certificate.
According to management, the company's P/E valuation is 13 times, 28% lower than the regional average for entertainment companies. If the offering is successful, the charter capital will increase to 1.114 billion dong. Based on the offering price, the market capitalization upon listing could reach 6.100 billion dong, or over 230 million USD.
DatVietVAC expects to raise 611 billion dong through the IPO. Management states these funds will be used for financial restructuring and debt repayment to optimize net profit margins for core subsidiaries.
DatVietVAC, initially a media company, was founded in 1994. Since 2019, the company transitioned to a holdings model with several member units, including Vie Channel, VieON, Dong Tay Promotion, and DatVietOOH.
DatVietVAC currently has two main business segments: content and media services. The company focuses on producing and commercializing original intellectual property to expand direct revenue streams from users. Original intellectual property refers to original creations such as characters, storylines, films, games, shows, symbols, or other identifying elements developed by a company or individual and legally protected. This business model is still relatively new in Vietnam.
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The "Anh trai say hi" concert organized by DatVietVAC in 4/2026 in TP HCM. *Photo: DatVietVAC*
Concurrently with the IPO announcement, DatVietVAC for the first time released its financial reports for previous years and the first quarter of this year. In the first three months of the year, the company generated nearly 625 billion dong in revenue, a 17% decrease compared to the same period, but after-tax profit surged from 33 million dong to over 7 billion dong.
According to management, business results tend to concentrate in the last two quarters. This is due to advertising spending, commercial sponsorship from brands, and consumer entertainment experiences typically surging during peak periods like Tet (Lunar New Year), festivals, and the year-end shopping season.
DatVietVAC aims for a revenue increase of approximately 5% this year compared to the same period, reaching 3.382 billion dong. After-tax profit is projected to rise by 11% to 420 billion dong. The company expects an average annual growth of 15% between 2026 and 2030, targeting 5.000 billion dong in revenue and 780 billion dong in profit over the next five years. The main drivers for these goals revolve around leveraging intellectual property and developing the fandom economy.
DatVietVAC currently has 48 shareholders, with three major shareholders holding a combined 48,2%. Chairman of the Board Dinh Ba Thanh and General Director Dao Van Kinh are the two largest shareholders, holding 21,96% and 14% respectively.
Phuong Dong
