Yeah1 Group Corporation listed more than 27.36 million of its shares on the HCM Stock Exchange on June 26, becoming the first ever entertainment company to list. (Photo: tuoitre.vn) HCM City (VNS/VNA) - Yeah1 Group Corporation listed more than 27.36million of its shares on the HCM Stock Exchange (HOSE) on June 26, becoming thefirst ever entertainment company to list.
YEG listed at a reference price of 250,000 VND(10.9 USD), beating the previous records held by Sabeco and Vinamilk. By 10:45it increased to 300,000 VND.
At that time the company’s market cap wasworth 8.82 trillion VND (385.1 million USD).
Established in 2006, Yeah1 runs a bunch ofentertainment channels including Yeah1TV, Yeah1family, Imovietv, and SCTV2.
Le Thi Tuyet Hang, Director of the Exchange’sListing and Disclosure Department, said the listing would help promote thecompany’s image and prestige and facilitate further capital mobilisation downthe line.
HOSE expects it to scrupulously comply withmarket regulations, she said.
In 2008 DFJ VinaCapital, a venture fundbelonging to Vietnam’s leading asset manager VinaCapital, invested in Yeah1.
Last year, Yeah1 reported after-tax profitof 82.3 billion VND on revenues of 851 billion VND (37.16 million USD), withthe profit quintupling from the previous year.
For 2018 it has a profit target of 172 billion VNDon revenues of 1.6 trillion VND (69.86 million USD).-VNS/VNA
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