HCMC – Yeah1 Group Corporation (HOSE: YEG) has approved a plan to receive capital from Sony Music Entertainment Hong Kong Limited, under which the global music group is expected to acquire a 49% voting stake in 1Label JSC, a subsidiary of Yeah1.
According to a board resolution dated December 15, Yeah1 will sign and execute investment and cooperation agreements with Sony Music Entertainment Hong Kong (Sony Music HK). The agreements also cover future cooperation in digital music distribution projects.
Following the completion of the transaction, 1Label and 1Talents JSC will no longer be consolidated as subsidiaries but will be reclassified as associated companies of Yeah1 Group.
Within the Yeah1 ecosystem, 1Label is responsible for music ownership, production and publishing, while 1Talents focuses on artist management. The two units are regarded as key contributors to the group’s content production and talent development activities.
Sony Music HK is a member of Sony Music Entertainment, one of the world’s three largest music groups.
Closing the trading session on December 16, YEG shares ended at VND12,100, up 2.54%, with nearly 840,000 shares changing hands. Yeah1’s market capitalization rose to approximately VND2.32 trillion.
The VN-Index added 33.17 points, or 2.02%, to close at 1,679.18, with 253 gainers, including 12 hitting their ceiling prices, and 66 decliners. Total trading volume reached over 832 million shares, valued at VND24.45 trillion, up more than 21% in volume and 30% in value from the previous session. Put-through transactions accounted for more than 82.1 million shares worth VND2.77 trillion.
The VN30 basket was led by SSI Securities and HDBank. HDBank remained at its ceiling price of VND32,100 ahead of its dividend record date, while SSI Securities rose 6.5% to VND30,250 on matched volume of over 32 million shares. Other blue chips such as MBB, VJC and MWG also closed higher, helping lift the benchmark index.
On the Hanoi Stock Exchange, the HNX-Index gained 5.71 points, or 2.29%, to 255.08. The exchange saw 104 advancers and 53 decliners, with matched trading volume exceeding 81.8 million shares and a total value of VND1.6 trillion.
