VNG Corporation (stock code: VNZ) has recently issued a clarification to the Hanoi Stock Exchange (HNX) regarding the news that “On the morning of September 7, VNG appointed an acting CEO to replace Mr. Le Hong Minh, the founder of the company.”
In the clarification, VNG Corporation asserted that they did not appoint Mr. Wong Kelly Yin Hong to replace Mr. Le Hong Minh. Mr. Kelly is temporarily assuming the role as per the arrangement by Mr. Minh to support the company’s operations and protect the shareholders’ rights and interests.
VNZ stock surged to the ceiling price from yesterday afternoon to this morning, September 12. Source: Fireant
The company has not received any resignation letter from Mr. Le Hong Minh. Therefore, he remains the CEO and legal representative of VNG Corporation.
VNG Corporation emphasized that the company’s operations, production, and management are currently running normally.
On September 11, VNG Corporation’s stock, VNZ, plunged to the floor price in the morning session but surprisingly reversed and surged to the ceiling price in the afternoon, ending the day at VND 388,800 per share, a 15% increase. In total, the stock price rose by 30% in a single trading day.
On the morning of September 12, VNZ continued to surge to VND 409,600 per share. However, compared to the price on September 6, the stock is still down more than 20%, and compared to the beginning of the year, it is down over 34%.
VNG is known as a leading technology company in Vietnam and a top online technology publisher in Southeast Asia. It is also the developer of Zalo, Vietnam’s most popular messaging and calling application, as well as the e-wallet application ZaloPay, with forays into artificial intelligence.
As of June 2024, Zalo had 77 million monthly active users (MAU), a 2% increase compared to the same period last year, and 1.9 billion messages sent daily, a 7% increase.
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