This weekly newsletter chronicles top digital themes and trends playing out in SE Asia, especially Indonesia. We will decode policy and regulatory changes affecting digital economy sectors, crunch earnings data of top players, track developments related to gig economy workers and attempt to piece together ecosystem buildouts in some of the fastest-growing, venture-backed plays. You can access the previous editions of the Vantage Point weekly posts here.
Executive Summary
- VNG’s Nasdaq IPO: Listing into slowing growth?
- TikTok Shop may have touched a raw nerve with social media move
- Data centre boom in Indonesia as Singapore runs short of space
VNG’s Nasdaq IPO: Listing into slowing growth?
The upcoming Nasdaq IPO of tech unicorn VNG has generated investor enthusiasm not only in its home country Vietnam, but also in Southeast Asia.
VNG has filed for a Nasdaq listing of 21.7 million shares but has not given any details on the pricing as yet, although both Bloomberg and Reuters are suggesting around $150 million IPO size.
The IPO is being widely viewed as a much-awaited liquidity event that will give a leg-up to the Vietnamese tech ecosystem. Coming close on the heels of automobile player VinFast‘s listing on the Nasdaq following a SPAC merger, VNG’s IPO is a confidence booster for investors who were so far concerned about exits.
