Yeah1 Group JSC will start trading on the Ho Chi Minh City Stock Exchange next Tuesday, making history as the first Vietnamese media company to join the listed market.
|Yeah1 Group is the first digital media firm in Vietnam to list on the stock market |
The starting price for Yeah1’s shares will be VND250,000 ($10.96), putting the firm’s market valuation at VND273 billion ($11.97 million). The amount of free-floating shares is 600,000.
Prior to this listing, Yeah1 has issued 7.82 million shares, or 25 per cent of its outstanding shares, in a private placement for institutional investors. Each share in this IPO sale was quoted at VND300,000 ($13.16).
According to chairman Nguyen Anh Nhuong Tong, the transaction was 2.5 times oversubscribed and raised more than $400 million for Yeah1.
New strategic investors for the multimedia firm include Thailand’s Central Group, which has previously invested in supermarket chain Big C, e-commerce website Zalora, and electronics retailer Nguyen Kim.
Tong told VIR that an unnamed Korean investor with “significant expertise in technology” also won at the auction, making their first foray into the Vietnamese market.
An early investor in Yeah1 is DFJ VinaCapital, which poured in $1.4 million back in 2008, two years after the media firm was launched. DFJ remains a major shareholder at Yeah1 til this day.
|Executives from Yeah1 at the roadshow in Ho Chi Minh City this week |
Yeah1 Group operates Vietnam’s largest ecosystem for digital media, one that spans TV, cinema, and online material. It both creates and distributes content, as well as liaising advertisements.
Yeah1 is an official partner of YouTube, claiming the title as the world’s sixth largest multi-channel network (MCN) of YouTube with 4.4 billion monthly views. According to Yeah1, it takes up one-fourths of all YouTube views in Vietnam.
Yeah1 is also the only official publishing partner of Google in Vietnam, collaborating with 600 publishers with 2.3 billion monthly views.
Upon listing, the group aims to take over other MCNs in Southeast Asia to further develop its own content and strengthen its relationship with brands.
| ||Yeah1 may break record share value |
Once Yeah1 succeeds in selling 7.8 million shares at the unit price of VND300,000 ($13.17), it will become the most valuable stock in Vietnam, exceeding ...
| ||Yeah1 to sell 7.8 million shares on HSX |
DFJ VinaCapital-backed entertainment group Yeah1 will offer 7.8 million shares for both foreign and local firms before trading 27.4 million shares on the Ho Chi Minh ...