DatVietVAC (DVV) Sets HoSE Listing Date at VND 54,800 Reference Price

Overview

HoSE has approved the listing of 111.4 million DatVietVAC (ticker DVV) shares, with trading scheduled to begin on November 2, 2026 at a reference price of VND 54,800 per share. At that price the media and entertainment group would carry a market capitalization of about VND 6,106 billion, following an IPO that was 106.6% subscribed. The listing gives public-market investors their first direct exposure to a Vietnamese entertainment platform built around concerts, artist management and IP.

Key Facts

• HoSE issued the listing approval on October 20, covering 111.4 million DVV shares.
• First trading day is planned for November 2, 2026, with a reference price of VND 54,800 per share.
• Implied market capitalization is approximately VND 6,106 billion; listed value at par is more than VND 1,114 billion.
• The prior IPO of 11.15 million shares was priced at VND 54,800 and drew subscriptions equal to 106.6% of the offering.
• IPO proceeds are allocated mainly to subsidiaries: about VND 528.5 billion to DatViet VAC Media and VND 36.5 billion to DatViet VAC Entertainment.
• The 2026 plan targets revenue of VND 3,382 billion and after-tax profit of VND 420 billion.
• First-half 2026 net revenue was VND 1,366 billion, down nearly 15% year on year, while after-tax profit reached almost VND 135 billion, about 5.8 times the prior-year figure.

What Happened

According to the HoSE decision dated October 20, the exchange accepted the registration to list 111.4 million shares of DatViet VAC Group Holdings. The company’s own plan sets the first trading session for November 2, 2026, at a reference price equal to the VND 54,800 IPO price. The listing value at par is more than VND 1,114 billion, matching the company’s current charter capital.

DatVietVAC had earlier completed an IPO of 11.15 million shares at VND 54,800, with demand reaching 106.6% of the offered volume. Per the disclosed use-of-proceeds plan, the funds flow primarily to member companies, with roughly VND 528.5 billion directed to DatViet VAC Media and VND 36.5 billion to DatViet VAC Entertainment. The company has not disclosed a separate valuation or lock-up schedule in the excerpt reviewed.

Market Context

DVV is a new listing on HOSE, so it has no trading history or price-context block to reference. The debut arrives in a Vietnamese equity market that has been receptive to consumer and media names, and at a VND 6,106 billion capitalization DVV would sit among the mid-cap tier of the exchange. The company’s own disclosure notes that entertainment revenue is seasonal, with most revenue and profit booked in the second half when programs air and concerts are staged, which will shape how the first post-listing quarters are read.

Strategic Significance

The investment case rests on whether DatVietVAC can convert audience reach into recurring, higher-margin income. First-half figures show the shift already underway: media services revenue fell 12% to VND 763 billion, but influencer marketing reached VND 97 billion, up 185%, and artist management and commercialization brought in VND 311 billion, up 44%. Gross margin improved to 21.2% from 19.8% as cost of services fell nearly 21%. The balance sheet carries VND 1,256 billion in cash and term deposits against VND 491 billion of short-term borrowings and no long-term debt. The long-term thesis is the IP ecosystem, direct-to-consumer and fandom economics, plus plans to take concert formats into international markets.

What to Watch

• First trading session on November 2, 2026, and whether the VND 54,800 reference price holds through initial price limits.
• Second-half 2026 results, which will test the seasonality claim and the VND 420 billion full-year profit target.
• Execution of at least six planned music festivals in H2 2026, including the four announced Tinh Hà “Say Hi” dates in October and November.
• Deployment of IPO proceeds at DatViet VAC Media and DatViet VAC Entertainment, and any disclosure on use of funds.
• Foreign-ownership limits and any subsequent filings on shareholder structure after listing.