GIC-backed Vietnam tech firm VNG Group considers US$3bil SPAC Merger

HANOI, Aug 14 (Bloomberg): Vietnam’s VNG Corp, whose investors include a unit of Singaporean sovereign wealth fund GIC Pte, is considering going public in the US through a reverse merger with a blank-check company, according to people familiar with the matter.

The online gaming and technology firm is working with financial advisers to hold discussions with special purpose acquisition companies for a potential deal, the people said. A transaction could value VNG at US$2 billion to US$3 billion, they said, asking not to be identified because the deliberations are private.