VNG Files to Become First Vietnam Tech Firm to Trade in US (2)

Internet startup VNG Ltd. filed for an initial public offering in the US, making it the first Vietnamese technology company to seek a listing in New York and adding to a diversifying roster of companies planning listings as equity markets thaw.

VNG, which plans to offer almost 22 million shares in the IPO, will set a proposed price range in a later filing with the US Securities and Exchange Commission. It said in its filing Wednesday that VNG will continue to be controlled by its founders, Le Hong Minh and Vuong Quang Khai. VNG will own 49% of VNG ...