Continuous losses in the thousands of billions, leading technology company in Vietnam still allows employees to buy shares at a discount of over 200 billion VND

VNG Corporation (VNZ) announced its plan to issue 640,974 ESOP shares to employees at 30,000 VND/share, aimed at attracting and retaining talent. Meanwhile, VNG shares are trading at 359,100 VND/share, making the ESOP issue worth about 230 billion VND. This means that after acquisition, the value of their shares could increase 12-fold. The shares will be restricted from trading for one year. Several executives are allowed to buy large amounts of shares, including Deputy General Director Vuong Quang Khai with over 134,000 shares. While VNG’s revenue for 2024 is projected at 9,505 billion VND, the company still reports a net loss of 1,018 billion VND, continuing a three-year streak of losses. VNG continues to issue ESOP shares, similar to 2023 when it issued nearly 1.9 million shares at 10,000 VND/share.