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The duration of the delay has yet to be determined.
Sources had previously said that the company had originally planned for its IPO to launch sometime this month or next.
VNG declined to comment. Reuters has reported that the delay might last until next year.
In a filing to the U.S. Securities and Exchange Commission, VNG said that it planned to offer some 21.7 million shares, with the proposed price range yet to be set.
IPO proceeds would be used to pay original foreign investors who were direct shareholders of the company, and to repay outstanding loans, among other uses, according to the filing.
Shareholders of VNG include Chinese social media and gaming giant Tencent, and Singapore state investor Temasek.
Founded in 2004, VNG was Vietnam's first startup tech unicorn, valued at $1 billion or more, and it inked a preliminary agreement in 2017 with U.S. bourse operator Nasdaq Inc to explore an IPO.
The Ho Chi Minh City-headquartered company's businesses include online games, payments, cloud services and Vietnam's most popular messaging app, Zalo.
