DFJ VinaCapital-backed entertainment group Yeah1 will officially list 27.36 million shares on the Ho Chi Minh City Stock Exchange (HSX) at the reference price of VND250,000 ($10.93), exceeding the previous records of Sabeco and Vinamilk.
|Yeah1 will start trading on HSX on June 26 |
According to information published on HSX, the first transaction will be conducted on June 26. With the high-record reference price, Yeah1 will have the market capitalisation of VND6.84 trillion ($299.15 million).
After the listing, the firm will continue to put 7.8 million shares on sale at the unit price of VND300,000 ($13.17) for strategic investors.
Sharing at the roadshow to introduce the investment opportunity in Yeah1 organised on June 19 in Ho Chi Minh City, general director of Yeah1 Nguyen Anh Nhuong Tong stated that to date, 25 investors registered to buy offered Yeah1 shares, almost all of which foreign firms from the UK, Singapore, Japan, and Thailand.
Some of the largest names are Capital Asset Management, Probus Group, TT International Limited, and Central Group Vietnam – the owner of Nguyen Kim chain.
|Recently, Yeah1 completed the purchase of a Thai firm and it is negotiating for two more M&A deals in Philippines and Indonesia. |
Yeah1 is confident that the sale will be successful, generating proceeds of $100 million.
Representative of Yeah1 added that once successful, Yeah1 will spend the proceeds expanding its operations via investments, M&A deals, as well as partnerships. Recently, the firm completed the purchase of a Thai firm and it is negotiating for two more M&A deals in Philippines and Indonesia.
Regarding Yeah1’ business result, in first half of this year, the firm acquired $32 million in revenue and $3.5 million in after-tax profit.
It expected that the average growth in term of revenue and after-tax profit in the period of 2014-2020 will maintain at 60 per cent and 63.6 per cent, respectively.
Yeah1 expected to earn $100.2 million in revenue and $10 million in profit this year. The figures will increase to $208.2 and $26.8 million by 2020, respectively.