DatVietVAC is about to IPO with a valuation of more than 230 million USD

DatVietVAC Group Holdings Joint Stock Company announced the initial public offering of 11.15 million shares, equivalent to about 11% of outstanding shares. The offering price per share is 54,800 VND, lower than the 81,716 VND in the valuation certificate.

According to management, the company’s P/E valuation is 13 times, 28% lower than the average of entertainment businesses in the region. If the deal is successful, charter capital increases to VND 1,114 billion. Calculated based on the offering price, the capitalization scale when listed on the stock exchange can reach 6,100 billion VND, or more than 230 million USD.

DatVietVAC plans to mobilize 611 billion VND through the IPO deal. The board of directors said they will use this money to restructure finances and pay off debt to optimize net profit margins for core subsidiaries.

DatVietVAC was originally a media company, established in 1994. Since 2019, the company has switched to operating under a holdings model with many member units such as Vie Channel, VieON, Dong Tay Promotion, DatVietOOH…

DatVietVAC currently has two main business segments: content and communication services. The company focuses on producing and trading original intellectual property to expand revenue sources directly from users. Original intellectual property refers to original creations including characters, plots, movies, games, shows, symbols or other identifying elements developed by companies or individuals and legally protected. This is a new business model in Vietnam.

At the same time as announcing the IPO deal, DatVietVAC announced its financial statements for the previous years and the first quarter of this year for the first time. In the first three months of the year, the company collected nearly 625 billion VND, down 17% over the same period, but profit after tax soared from 33 million VND to more than 7 billion VND.

According to management, business results tend to focus on the last two quarters because the demand for advertising spending, commercial sponsorship of brands and consumer entertainment experiences often skyrockets during the peak period of Tet, festivals, and the year-end shopping season.

DatVietVAC targets this year’s revenue to increase by about 5% over the same period, to VND 3,382 billion; Profit after tax is expected to increase by 11% to 420 billion VND. The company expects an average growth of 15% per year in the period 2026-2030, aiming for VND 5,000 billion in revenue and VND 780 billion in profit in the next 5 years. The main motivation for this goal revolves around the exploitation of intellectual property and the development of the fandom economy.

DatVietVAC currently has 48 shareholders, of which three major shareholders hold a total of 48.2%. Chairman of the Board of Directors Dinh Ba Thanh and General Director Dao Van Kinh are the two largest shareholders holding 21.96% and 14% respectively.