Vietnam's 'Say Hi' producer DatVietVAC lists on HOSE after $21.9M IPO
What's the deal? DatVietVAC Group HoldingsDealroom has a profile for this one. Try Dealroom →, the Vietnamese media company behind hit shows like "Anh trai say hi" and "Rap Việt," will begin trading on the Ho Chi Minh City Stock Exchange (HOSE) on November 2, 2026. The listing of 111,418,000 shares follows an IPO that raised 565 billion VND (≈$21.9 million) and values the group at over 6,100 billion VND (≈$6.1 trillion VND).
How the IPO went: DatVietVAC sold 11.15 million shares at VND54,800 apiece, with subscriptions reaching 106.6% of the offer. That same price serves as the first-day reference, so the figure signals investor demand rather than a listing-day gain.
Where the money goes: Roughly VND528.5 billion was allocated to DatViet VAC Media and VND36.5 billion to DatViet VAC Entertainment to fund core operations. The company also plans a cash dividend of VND2,500 per share in December 2026 — a roughly 4.6% yield at the IPO price — and has paid more than VND1 trillion in dividends over six years.
What's the endgame? The listing underpins a 2026–2030 growth plan built on an integrated entertainment value chain and commercialising intellectual property. DatVietVAC targets VND3,382 billion in revenue and VND420 billion in after-tax profit for 2026, rising to VND5,000 billion and VND780 billion by 2030.
Its content segment drives the business, contributing about 90% of group operating profit in 2025 on revenue of VND1,727 billion. The ecosystem holds more than 2,000 protected intellectual property assets and records 67 billion views a year.
Why now? The second half of 2026 coincides with a concert push. The "Say Hi" Tinh Ha series sold out shows in Ho Chi Minh City and Hanoi, with a fourth date set for November 15, while the "Say Hi" Universe concert returns to Las Vegas in November under a licensing model.
The signal: The debut rides a sharp rebound in Vietnam's IPO market, where 10 offerings raised VND60.9 trillion from late 2025 through October 2026 — more than nine times the 2021–24 total. For a rare public listing of a Vietnamese entertainment business, the test will be whether content hits convert into repeatable earnings and sustained demand, especially as several recent IPO stocks have traded below their opening prices.
Read more: vietnam.vn
Image credit: Generated with Gemini
