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Sunday, June 16, 2024

Yeah1 to issue 78.6 million shares to increase charter capital

The Saigon Times

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HCMC – Yeah1 Group Corporation (YEG), at its annual shareholders’ meeting on June 15, approved a plan to issue a maximum of over 78.6 million shares this year to raise its charter capital by VND786.42 billion.

The shares will be offered at VND10,000 each. The proceeds from the share issue will be used to expand the corporation’s investment in digital media, tech-media, fintech and others.

In addition, the money will be used to invest in the corporation’s technological infrastructure, increase the working capital of subsidiaries and pay debt of the parent company.

Shareholders of Yeah1 also passed a business plan for this year with the consolidated revenue targeted at VND588 billion and the after-tax profit of the parent company growing 24.7% over 2021 to VND24.7 billion.

At the shareholders’ meeting, new members of the corporation’s board for the 2022-2027 tenure were also elected. Accordingly, the board included Yeah1 general director Dao Phuc Tri; deputy general directors Le Phuong Thao and Le Minh Nhat Tin; Tran Hoai Nam, chairman and general director of Thai Tuan Group JSC, and Nguyen Hoang Giang, chairman of DNSE Securities JSC.

Last year, YEG generated consolidated net revenue of nearly VND1.1 trillion, down 11.4% over 2020 and reaching nearly 40% of the target.

According to an auditing report by PwC Vietnam, YEG’s after-tax profit in 2021 was around VND30 billion, nearly 7.5 times higher than the VND4 billion target.

Today, YEG surged 6.99% at VND24,500.

Regarding stock trading, the VN-Index of the Hochiminh Stock Exchange added 22.7 points, or 1.87%, against the previous session at 1,236.63, with 298 stocks advancing and 154 others declining. The bourse saw nearly 561.7 million shares worth over VND14.7 trillion changing hands, down 18% in volume and 10% in value.

Meanwhile, the HNX-Index of the Hanoi exchange rose 4.52 points, or 1.6%, compared to the previous session at 287.77.

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