Entertainment firm Yeah1 to debut shares next week
Entertainment group Yeah1 set to trade 27.37 million shares on the Ho Chi Minh Stock Exchange (HoSE) next week, announced the group in a roadshow on June 18.
The exact date, however, was not disclosed. The move would see Yeah1 become the first local entertainment company to list on the stock market.
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Investors, thus, would need to pay at least VND300,000 (US$13.09) per share.
With regards to the high share valuation, the price was not decided by Yeah1, but was offered by foreign investors, said the group's representative at the roadshow.
Moreover, most of Yeah1's investors come from developed countries, where advertisements on digital platform achieve a growth rate of 50% - 60% per year. The rate, however, is only 5% - 6% in Vietnam, for which the country is considered to have high growth potential.
From now on until 2021, it is forecast that the growth rate of online advertising in Vietnam will reach 30% on an annual basis.
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.
The entertainment group runs a series of entertainment channels including the Yeah1TV, Yeah1family, Imovietv and SCTV2, with nine subsidiaries and four indirect subsidiaries including Yeah1 Vietnam Co., Netlink Online Corporation and TNT Media Advertising.
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 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.
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