Vietnamese media and entertainment group DatVietVAC is seeking to raise around 611 billion Vietnamese dong ($23.2 million) in an initial public offering (IPO), as the company bets on intellectual property, artists, live entertainment, and direct consumer spending to drive its next phase of growth.
DatVietVAC Group Holdings plans to offer 11.15 million shares at 54,800 dong apiece, equivalent to about 10% of its post-IPO shares. The offer values the company at about 5.5 trillion dong ($211 million) before the issuance and 6.111 trillion dong ($234 million) after the deal.
The IPO and roadshow will run from August 5 to September 7, followed by share allocation on September 8-9 and payment of the remaining subscription amount from September 10-17.
DatVietVAC expects to report the offering results in September and is targeting a listing on the Ho Chi Minh Stock Exchange (HOSE) in October 2026.
The company, founded more than three decades ago by chairman Dinh Ba Thanh, is behind some of Vietnam’s most popular entertainment franchises, including Rap Viet, The Masked Singer and “Say Hi”.
The IPO comes as DatVietVAC seeks to evolve beyond its traditional media and content production roots into an entertainment ecosystem built around intellectual property, artists, live experiences, and direct-to-consumer (D2C) businesses.
DatVietVAC generated 3.196 trillion dong in net revenue and 379 billion dong in net profit in 2025. It is targeting 3.5 trillion dong in revenue and 420 billion dong in net profit in 2026.
Its content business remains its main profit engine, generating 1.727 trillion dong in revenue and 436 billion dong in operating profit in 2025. The segment currently accounts for around 85-90% of group profit.
The group has around 270 million followers across digital platforms, generating 67 billion views annually, alongside a library of more than 2,000 protected intellectual property assets.
Artist commercialisation generated around 560 billion dong in revenue in 2025. DatVietVAC aims to increase that to around 1.5 trilliondong by 2030, representing a compound annual growth rate of about 22% per year.
From the fourth quarter of 2026, the company plans to launch an artist development joint venture, allowing it to participate more deeply in training, image development, music, concerts and artist-related IP.
DatVietVAC plans to deploy almost all of the IPO proceeds into its two core businesses. About 536.9 billion dong will be injected into DatVietVAC Media to support Dat Viet Media and TKL, while another 74 billion dong will go into DatVietVAC Entertainment to increase the capacity of content producers Vie Channel and Dong Tay Promotion.
Following a restructuring in November 2025, DatVietVAC Group Holdings became the entity undertaking the IPO and proposed listing, focusing on two core businesses: content and media services. VieON is not part of the entity being listed.
