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Yeah1 to establish new subsidiary

The Saigon Times

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HCMC – Yeah1 Group Corporation, whose YEG shares are traded on the Hochiminh Stock Exchange, will establish 1Production Co., Ltd whose VND2-billion charter capital is entirely contributed by Yeah1 Group.

The Yeah1 management board has passed a plan for contributing capital to the new subsidiary, the local media reported.

Earlier, the YEG board approved the transfer of shares of Yeah1 Edigital JSC (Y1D) and Netlink Vietnam Communication Technology JSC.

In specifics, YEG will acquire nearly four million Y1D shares at VND32,700 per share, or a 35% stake.

Besides, 63,000 shares of Netlink Vietnam, equivalent to a 35% stake, will be transferred to YEG. This deal is expected at over VND103 billion.

Y1D was founded in 2012 to connect community, and produce and release digital contents on social media platforms. Meanwhile, Netlink Vietnam was established in May 2020, operating in digital marketing.

On the local stock market, YEG closed unchanged at VND9,650 today, February 16.

With up to 314 winners and 75 losers, the benchmark VN-Index of the HCMC market gained 10.09 points, equal to 0.96% against the previous session at 1,058.29.

Trade on the southern bourse contracted over 18% in volume and 14% in value versus yesterday. Shares traded in put-through transactions accounted for more than VND1.5 trillion of the overall value.

Among the top-performing stocks, many steelmakers ended in positive territory.

Steelmaker HSG was the most actively traded stock on the southern market, with a matching volume of 31.95 million shares. HSG rose 5%, the highest in five months, to VND15,850.

HPG, another leading steelmaker in Vietnam, came second with 23.9 million shares changing hands, improving 2.4% to VND21,300. Its peer NKG was also among the top five stocks by liquidity.

Among bank stocks, only OCB and VCB declined. Meanwhile, EIB was the biggest advancer as it surged 4.8%, followed by HDB, up 3.9%.

The upward trend was also recorded among securities stocks, with VIX, FTS, CTS, HCM and VND soaring over 4%.

On the Hanoi bourse, the HNX-Index added 2.87 points, or 1.38%, over the session earlier to close at its intraday high of 210.84, with 110 advancers and 50 decliners.

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