DatVietVAC plans an IPO in 2026, with its Say Hi ecosystem as the growth driver

DatVietVAC Group Holdings (DatVietVAC) has disclosed plans to launch an initial public offering (IPO) within 2026, saying it is finalizing the submission to the State Securities Commission and expects to implement the IPO this year to strengthen its fundraising capacity for development plans.

IPO plan and rationale

On 13 April 2026, DatVietVAC said it is completing the IPO filing process with the State Securities Commission. The company expects to proceed with the offering in 2026 to broaden its financial resources for development activities, including artist training, while creating value for shareholders and employees.

Management said the business plan is built around increasing the value generated from intellectual property (IP) assets operated within an integrated ecosystem, linking content creation, format development, and exploitation across multiple platforms to optimize performance.

2025 results and key growth drivers

In 2025, DatVietVAC reported revenue of VND 3,235 billion and net profit after tax of VND 380 billion. The company also declared a cash dividend of 19%.

Within the revenue structure, the “Say Hi” content ecosystem remained the main growth driver. DatVietVAC said total revenue from the “Say Hi Universe” exceeded VND 1,000 billion, with the program “Anh trai say hi” contributing VND 480 billion.

2026 targets

For 2026, DatVietVAC targets revenue of VND 3,382 billion and net profit of VND 420 billion, with a dividend payout ratio of 15%. The company linked these targets to its control of the IP value chain, from content creation and format development to monetization across platforms.

Use of proceeds and listing timeline

DatVietVAC said funds raised from the IPO will be used to develop talent, including training and pursuing M&A deals with large-scale training organizations, and to invest in direct-to-consumer (D2C) platforms.

On the listing plan, the company said it intends to IPO and list in the second half of 2026 on either HOSE or HNX depending on real conditions.

Market context and industry tailwinds

Management pointed to favorable conditions for the next growth phase, citing the cultural industry’s designation as a national strategic pillar under Resolution 80-NQ/TW, along with the allocation of at least 2% of the budget to the sector. The company said this supports the expansion of the private sector and the application of favorable policies on infrastructure, land, and taxes.

DatVietVAC also noted that cultural industry infrastructure is entering a development phase, including large-scale performance complexes and stadiums. The company said Vietnam’s entertainment and media market is expected to reach about USD 2.4 billion by 2026.

Management comments

Vice Chairman of the Board and CEO Dao Van Kinh said the IPO objective is to broaden financial resources to develop additional activities, including artist training, while creating value for shareholders and employees. He also highlighted the “Say Hi” concert held in Las Vegas, USA, last year as a gateway to new markets and as a way to promote Vietnam’s cultural export activities.

Strategy and Development Director Phan Dang Hung said the IPO and listing are planned for the second half of 2026, with the exchange to be selected based on conditions.

Shareholder structure

DatVietVAC said it currently has three main shareholder groups: founding shareholders; financial investors from Hong Kong and Singapore with significant stakes; and long-standing staff.