VNG Limited is about to be listed in the US, the craze of creating anime with AI has potential risks

VNG Limited is about to be listed in the US

According to a filing with the US Securities and Exchange Commission (SEC), VNG Limited has just submitted an application under form F-1 to list its shares on the US Nasdaq Global Select Market.

Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, UBS Securities LLC and BofA Securities, Inc. are the underwriters for the IPO. The size of the transaction and the offering price range have not yet been determined.

VNG Corporation has just announced that VNG Limited has officially submitted a registration application under form F-1 to the US Securities and Exchange Commission (SEC).

Major shareholders of VNG Limited include Mr. Le Hong Minh, Mr. Vuong Quang Khai, Tencent and Ant Group (2 Chinese enterprises) and Singapore's GIC investment fund.

VNG Limited currently owns 49% of the technology “unicorn” VNG Corporation. VNG has many large projects, is currently the leading game publisher in the Vietnamese market and is expanding rapidly in the global market.

VNG’s other notable products include Zing MP3 (Vietnam’s largest online music platform with over 28 million monthly active users, according to F&S) and ZaloPay (Vietnam’s fastest-growing e-wallet, according to F&S).

In early 2023, VNG registered to trade on Vietnam's Upcom stock exchange with the first session price of VND240,000/share. By February 16, VNZ shares reached more than VND1.56 million/share, equivalent to a capitalization of more than VND55.9 trillion (about USD2.3 billion).

VNG currently has a capitalization of 29,500 billion VND (equivalent to more than 1.2 billion USD).

APG submarine cable has 2 new errors

On August 20, a representative of an Internet service provider (ISP) in Vietnam said that the Asia Pacific Gateway - APG international submarine cable line cannot return to normal operation from the end of August 2023 as planned due to the discovery of two new errors on branches S1.9 and S9.

Route of Asia Pacific Gateway – APG international submarine cable.

Specifically, the troubleshooting time on branch S1.7 of the APG submarine cable has been postponed to September, from September 7 to September 11, instead of being completed by the end of August 2023.

Meanwhile, 2 new issues on branches S9 and S1.9 have no scheduled fixes.

With three unresolved problems, this fiber optic cable is currently losing capacity on the connection from Vietnam to Singapore.

However, a representative of an Internet service provider (ISP) said that the impact of the incidents on the APG submarine cable on network operators and Internet users in Vietnam is not large.

The craze of creating anime images with AI has the potential to expose personal information

Since mid-August, the Loopsie application has integrated the ability to turn photos into drawings in the style of Japanese animation (anime), causing a "fever" on Vietnamese social networks.

Facebook and Instagram are flooded with anime-style portraits and landscapes created by Loopsie. The app quickly rose to become the most downloaded app in Vietnam.

An anime image created by Loopsie from real photos uploaded by users to the app.

Loopsie has been available on iOS and Android since 2018. But it wasn't until the AI "fever" spread globally that Loopsie's developers began integrating the feature of turning photos into anime paintings.

However, Loopsie is currently only available for iOS. The Android version has been removed from Google Play for unknown reasons.

According to a security expert, users should be cautious when giving personal photos to service providers. This action has the potential to expose personal data.

This expert recommends that users should not put sensitive, private photos into the app. Because it can be used for many purposes, even fraud, without control.

(Synthetic)

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