Yeah1 plans to issue shares to raise charter capital

by Yeah1 Group

Media firm Yeah1 plans to triple its charter capital by raising VND626 billion (US$27.5 million) from a share issuance. — VNS Pho

Multi-channel media group Yeah1 has announced a plan to issue nearly 62.56 million bonus shares at the rate of 200 per cent in 2019.

Each shareholder will receive two new shares for every share he or she already owns. Bonus shares will be available to trade on the stock market after the issuance date.

The share issuance will help Yeah1 triple its charter capital to VND938 billion (US$41.2 million) from its current VND312 billion.

The value of the deal is nearly VND625.6 billion and the share issuance funding is taken from the company’s share premium recorded in its audited financial report for 2018.

As of September 30, Yeah1 had VND1.13 trillion in its share premium and VND73 billion in undistributed post-tax profit.

In the first nine months of the year, Yeah1 recorded VND1.03 trillion in revenue, up 111 per cent over the same period last year, and VND131.2 billion in post-tax profit, up 239 per cent.

Yeah1 listed more than 31 million shares on the Ho Chi Minh Stock Exchange with code YEG starting on June 26, 2018 at VND300,000 per share.

The company shares slumped 4.3 per cent to end Thursday at VND267,000 per share. — VNS

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