Investors can register to buy DatVietVAC's initial public offering (IPO) shares through its main distributor, Vietcap, via its website, or by visiting its headquarters, branches, or authorized agents.

Following the issuance, the company's charter capital is projected to increase to 1,114 billion dong, equivalent to over 111,4 million outstanding shares, with a market capitalization of approximately 6,105 billion dong at the IPO price. With a post-tax profit plan of 420 billion dong in 2026, an 11% increase from 2025, the company expects to achieve a return on equity (ROE) of 34,7%, corresponding to a projected P/E of about 13 times.

According to Capital IQ data and analysis, among over 1,600 listed media and entertainment companies globally, DatVietVAC meets four criteria: revenue exceeding 100 million USD; gross profit margin of 20% or more; net profit margin of 10% or more; and ROE above 40%.

Last year, the company achieved an operating profit margin of 13,9% and an ROE of 40,8%. It also maintained a stable balance sheet with no long-term debt and nearly 875 billion dong in cash and cash equivalents. The company has no outstanding corporate bonds or bond issuances.

Over the past six years, the company has paid out more than 1,000 billion dong in cash dividends. Management anticipates a cash dividend of 2,500 dong per share this year, offering an immediate dividend yield of approximately 5% for shareholders participating in the IPO.

DatVietVAC is offering incentives of up to 25 billion dong, along with special privileges for investors, including President's Lounge and SVIP tickets to concerts, and exclusive experiences with popular entertainment intellectual properties (IPs).

The concert "Anh trai say hi" organized by the company in april in TP HCM. Photo: DatVietVAC

DatVietVAC operates as an entertainment media technology ecosystem built on intellectual property (IP). It transforms content into multi-platform consumer experiences that can be scaled and commercially exploited.

Mr. Dinh Ba Thanh, founding chairman of DatVietVAC, noted that the media and entertainment market size is projected to reach 2,4 billion USD this year and maintain double-digit growth until 2030. He believes a true cultural industry requires three elements: original creation; IP exploitation; and the creation of a value chain from digital content and "cultural exports" to achieve global competitiveness.

Over the past 30 years, DatVietVAC has achieved several milestones: becoming the first private media company, developing the first privately-owned television channel, and contributing to the spread of Vietnamese idol culture. The company has also built a value chain from IP reality shows and concerts, even bringing 150 artists and the "Anh trai say hi" crew to perform in the United States. The company consistently expands its operations through integration. "We always stand outside the normal crowd, observing and finding different paths to create unique value", Mr. Dinh Ba Thanh stated.

The concert "Anh trai say hi" in Las Vegas, US in 7/2025. Photo: DatVietVAC

A distinctive aspect of DatVietVAC is its revenue model. Instead of relying on seasonal "hits," the company builds a system for continuous IP creation and exploitation. Each piece of content functions not merely as a product, but as an asset that can be expanded and re-exploited over time.

Mr. Dinh Ba Thanh also highlighted factors investors should consider when evaluating the company: its ability to create IP, its potential for IP exploitation, its scalability, and the predictability of its operations.

The company currently owns 2,000 intellectual properties, including: program formats, songs, films, and application designs. This is the key that enables the company to actively commercialize and exploit IP value in a 360-degree manner, from screen to real life, without restrictions or terms from foreign owners. Popular IPs include Tinh ha say hi, Anh trai say hi, Em xinh say hi, Rap Viet, The Masked Singer Vietnam, 2 ngay 1 dem, Say hi ruc ro, Song, and Anh trai va cai duoi nho.

The company organized 13 concerts between 2022 and 2025, selling over 318,000 tickets. It has also begun "exporting culture" globally by successfully licensing two "Anh trai say hi" concerts in Las Vegas, United States, generating 45,3 billion dong in revenue.

This strength is amplified by a large-scale artist management ecosystem through its member Nomad MGMT Vietnam. From 2023 to 2025, the total value of commercial contracts from 100 stars achieved a compound annual growth rate of 77%, boosting the appeal of various programs and content projects.

Performance of the "brothers". Photo: DatVietVAC

The value chain is supported by the multi-platform VieNetwork ecosystem, which garnered over 270 million followers and 67 billion views in 2025. Management identifies this as a tool for IP commercialization, especially its ability to convert audience reach and engagement into economic value.

A driving force behind DatVietVAC's increased valuation is its strategic shift from a traditional business-to-business (B2B) model (selling corporate advertising) to direct-to-consumer (D2C) exploitation.

For 2026, the company aims for 3,382 billion dong in revenue and 420 billion dong in profit. Its vision for 2030 is to achieve 5,000 billion dong in revenue and approximately 780 billion dong in post-tax profit, maintaining a 15% annual post-tax profit growth rate through expanded content production and intensified internationalization.

According to the plan, in the second half of this year, the company will intensify the shows Tinh ha say hi, The Masked Singer Vietnam, and 2 ngay 1 dem, alongside strategic collaborations. It will also organize at least six mega concerts, most of which belong to the "say hi" IP series. "The results from these programs and mega concerts will influence our ability to meet or exceed the set targets", DatVietVAC stated.

Hieu Chau

Investors can find more details here or register to purchase IPO shares through Vietcap, the website, or by visiting headquarters, branches, and authorized agents, from 5/8 to 7/9.