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Wednesday, June 19, 2024

Yeah1 set to transfer 85% stake in YAG Entertainment

The Saigon Times

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HCMC – Yeah1 Group Corporation (YEG) plans to transfer 1,564,000 shares at YAG Entertainment JSC, which is 85% owned by Yeah1.

Yeah1 is expected to transfer the amount of shares this month, the local media reported.

If the deal is done, YAG Entertainment will no longer be Yeah1’s subsidiary.

As of June 30 this year, Yeah1 was holding a 99.7% stake in YAG Entertainment, which is headquartered in HCMC and operates in marketing.

YAG Entertainment was established on July 18, 2018, with Luu Anh Khoa being the legal representative.

Yeah1 in the first half of this year saw its revenue tumbling nearly 77% year-on-year at over VND139 billion. Its after-tax profit in the six-month period reached VND8.09 billion, compared to its losses of VND196.77 billion in the year-ago period.

Yeah1 looks to earn VND588 billion in revenue and VND24.7 billion in after-tax profit in 2022.

Closing the trading session today, October 5, YEG increased 2.23% against the previous session at VND18,300.

The local stock market made a rebound today.

The benchmark VN-Index of the HCMC market added 26.12 points, or 2.42%, over the session earlier at 1,104.26, with winners outnumbering losers by 392 to 85.

Trade on the southern bourse slid 21% in volume and 20.6% in value at 452 million shares and more than VND9.4 trillion. Shares traded in block deals contributed over VND1.4 trillion to the total value.

Many stocks in the banking, securities, real estate, and construction sectors hit their upper limits, such as EIB, VCI, SCR and CII.

Steelmaker HPG was the most actively traded stock on the southern bourse. It closed higher by 1.9%, with over 25.3 million shares changing hands.

Trading on the northern bourse also turned upbeat. With 152 advancers and 55 decliners, the HNX-Index improved 6.51 points, or 2.76%, compared to yesterday at 242.12.

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