The entertainment group previously approved plans to raise capital from VND238 billion (US$10.4 million) to VND312.8 billion (US$13.7 million) and raise the ownership ratio of foreign investors to 100%, after listing the shares on the stock exchange.
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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), 5 times higher than the figure posted in 2016.
Yeah1 set revenue target of VND1.6 trillion (US$70.64 million) in 2018, up 90% year on year and profit of VND172 billion (US$7.6 million), up 109% year on year.
The group was largely owned by Nguyen Anh Nhuong, Chairman of the board of directors with 41.4% stake; DFJ VinaCapital 35.71%; Ancla Assets Ltd 12.49% and the group's CEO Dao Phuc Tri 4.37%.
In 2008, DFJ VinaCapital, a venture fund of Vietnam's leading asset manager VinaCapital invested in Yeah1, a company specializing in the field of entertainment for young people in Vietnam.
Last month, VTVCab, a unit of state-owned broadcasting agency Vietnam Television, is cancelling its initial public offering (IPO) on April 17 after only one investor registered to attend the auction, according to an announcement by the Hanoi Stock Exchange.
In the proposed IPO, which was announced last month, VTVcab expected to offload 42.29 million shares, or 47.8% stake in the firm. At a starting price of VND140,900 (US$6.23) per share, the government was hoping to raise at least VND6 trillion (US$264 million) from the IPO.
However, the privatization process got delayed due to difficulties in asset valuation. Recently, the Prime Minister agreed to extend the deadline for VTVCab's IPO to June 30, 2018.
VTVcab, wholly-owned by VTV, has become one of the country's largest pay-TV players in terms of subscribers and the service range nationwide.
Launched in 2012, it broadcasts 200 channels in cooperation with other television service providers. VTVcab is also involved in digital, customized and Internet TV services.
