Wednesday, 18 Jul 2018
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INVESTMENT

Yeah1 shares hit ceiling in listing debut

Updated at Tuesday, 26 Jun 2018, 11:39
The Hanoitimes - At the time of writing, shares of entertainment group Yeah1 were traded at VND300,000 (US$13.18) apiece - the upper limit in its debut on the Ho Chi Minh Stock Exchange (HoSE) on June 26.
For a total of 27.37 million shares floated on HoSE, Yeah1 is valued at around VND8.8 trillion (US$383 million).
 
Illustration photo.
Illustration photo.
At such price, Yeah1 share price is the highest among listed companies in Vietnam, overcoming major listed companies in the pecking order including Saigon Alcohol Beer and Beverages (Sabeco), Vinacafe Bien Hoa, Vietnam Diary Products (Vinamilk) and Vietjet Air. 

According to the exchange trading rules, share prices are allowed to move 20% higher or lower than the benchmark price on the first day of listing. 

Established in September 2006, the entertainment group runs a series of entertainment channels including Yeah1TV, Yeah1family, Imovietv and SCTV2, with nine subsidiaries and four indirect subsidiaries including Yeah1 Vietnam Co., Netlink Online Corporation and TNT Media Advertising. 

Yeah1 is currently the largest multi-channel network in Asia and the 6th largest in the world by monthly views, it claims. The group is also the only certified publishing partner of Google, which has full rights to publish Google content in Southeast Asia.

As of December 31, 2017, Yeah1 has three major shareholders holding 90% stakes of the group, including Chairman Nguyen Anh Nhuong Tong with 41.4%, DFJ Vinacapital Venture Investment (35.7%), and Ancla Assets (12.5%). 

In 2017, Yeah1 recorded VND851 billion (US$37.5 million) in revenue, up 48% year on year. The company posted after-tax profit of VND82.3 billion (US$3.63 million), five times the figure posted in 2016.

The group set a revenue target of VND1.6 trillion (US$70.64 million) in 2018, up 90% year-on-year and a profit of VND172 billion (US$7.6 million), up 109% year-on-year. 
Ngoc Thuy
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