DatVietVAC (DVV) Approved for HOSE Listing at VND 54,800 Reference Price

Overview

HOSE approved the listing of 111,418,000 DatVietVAC (DVV) shares on October 20, 2026, with trading scheduled to begin on November 2, 2026 at a reference price of VND 54,800 per share. The listing follows a completed initial public offering and implies a market capitalization of more than VND 6,100 billion for the media and entertainment group. It marks the arrival of a large IP-led content and live-event platform on Vietnam’s main board.

Key Facts

• HOSE approved the listing of 111,418,000 DVV shares on October 20, 2026.
• First trading day is scheduled for November 2, 2026, with a reference price of VND 54,800 per share.
• Implied market capitalization exceeds VND 6,100 billion (approximately USD 244 million).
• The reference price matches the offer price in the recently completed IPO.
• The IPO drew subscription demand equal to 106.6% of the shares offered.
• IPO proceeds are earmarked for subsidiaries: about VND 528.5 billion for DatViet VAC Media and VND 36.5 billion for DatViet VAC Entertainment.
• 2026 targets: revenue of VND 3,382 billion and net profit after tax of VND 420 billion, up about 6% and 11% year on year.
• 2030 targets: revenue of about VND 5,000 billion and net profit after tax of VND 780 billion.

What Happened

In a decision dated October 20, 2026, the Ho Chi Minh City Stock Exchange (HOSE) approved the listing of 111,418,000 shares of Công ty Cổ phần DatViet VAC Group Holdings. The company plans for the shares to begin official trading on HOSE on November 2, 2026, with a first-session reference price of VND 54,800, equivalent to the price offered in its recent initial public offering. At that price the company’s market capitalization is estimated at more than VND 6,100 billion.

DatVietVAC said the IPO closed with registered purchase volume reaching 106.6% of the shares offered. Proceeds are to be allocated mainly to member units, with roughly VND 528.5 billion directed to DatViet VAC Media and VND 36.5 billion to DatViet VAC Entertainment, to reinforce core business activities. The company frames the HOSE listing as a step that broadens its investor base and access to capital markets, and as a foundation for its 2026-2030 growth strategy centered on an integrated entertainment value chain and commercialization of intellectual property (IP).

Market Context

DVV arrives on HOSE as a rare pure-play media and entertainment listing on a board dominated by banks, real estate and industrials. The reference price of VND 54,800 and the VND 6,100 billion implied capitalization set the initial valuation benchmark; the source article does not provide recent secondary price action, since the shares have not yet traded. The listing follows a fully subscribed IPO and coincides with an active period for the company’s content slate, including the fifth season of “2 Ngày 1 Đêm” and its concert series. No price-context block was provided for this note.

Strategic Significance

The investment case rests on whether DatVietVAC can convert a domestic television and concert franchise into recurring, licensable IP revenue. The 2026 plan implies modest single-digit to low-double-digit growth, but the 2030 targets of VND 5,000 billion revenue and VND 780 billion net profit require a materially steeper trajectory, driven by five stated growth pillars: diversifying programming across age groups, expanding concert and event monetization from programs and artists, broadening IP commercialization, developing an artist ecosystem, and building fandom-based revenue. International expansion through licensing, including the return of the Vũ Trụ “Say Hi” concert to Las Vegas in November 2026, is the clearest test of whether Vietnamese IP can earn revenue outside the domestic market. Execution on these pillars, rather than the listing itself, will determine long-term returns.

What to Watch

• First trading session on November 2, 2026, and whether the VND 54,800 reference price holds amid initial liquidity.
• Foreign-ownership limits and room disclosures for DVV as a media and entertainment issuer.
• 2026 revenue and net profit versus the VND 3,382 billion and VND 420 billion targets.
• Commercial results from the Las Vegas “Say Hi” concert and the HIEUTHUHAI “Mắt Nhắm Mắt Mở” show in November 2026.
• Progress on IP licensing revenue and the artist ecosystem ahead of the 2030 VND 5,000 billion revenue goal.