DFJ VinaCapital-backed entertainment group Yeah1 will trade 27.4 million shares on HoSE while the Nawaplastic Industries has increased its ownership at Binh Minh Plastic to over 51 per cent.
DFJ VinaCapital-backed Yeah1 to trade on HoSE
DFJ VinaCapital-backed entertainment group Yeah1 will trade 27.4 million shares, equivalent to VND274 billion ($12 million) of charter capital, on the Ho Chi Minh City Stock Exchange, making it the first local entertainment company to list on the stock market.
The entertainment group previously approved plans to raise capital from VND238 billion ($10.4 million) to VND312.8 billion ($13.7 million) and raise the ownership ratio of foreign investors to 100 per cent, after listing the shares on the stock exchange.
Yeah1 runs a series of entertainment channels including the Yeah1TV, Yeah1family, Imovietv and SCTV2, with nine subsidiaries and four indirect subsidiaries including Yeah1 Vietnam Co., Netlink Online Corporation and TNT Media Advertising.
The group was largely owned by Nguyen Anh Nhuong, Chairman of the board of directors with 41.4 per cent stake; DFJ VinaCapital 35.71 per cent; Ancla Assets Ltd 12.49 per cent and the group’s CEO Dao Phuc Tri 4.37 per cent.
In 2008, DFJ VinaCapital, a venture fund of Vietnam’s leading asset manager VinaCapital invested in Yeah1, a company specializing in the field of entertainment for young people in Vietnam.
Last month, VTVCab, one of Vietnam’s largest pay-TV players, planned to offload a 47.8 per cent stake in the firm in its initial public offering (IPO), hoping to raise at least VND6 trillion ($264 million). However, it was canceled because only one investor registered to attend the auction.
Thai Nawaplastic ownership in Binh Minh Plastic up 51%
The Nawaplastic Industries (Saraburi), a subsidiary of Thailand’s Siam Cement Group (SCG), has purchased an additional 170,040 shares of Vietnamese plastic producer Binh Minh Plastic JSC (BMP), lifting its ownership to 51.1 per cent, according to Ho Chi Minh City Stock Exchange (HoSE).
Through this transaction which was done on May 15, Nawaplastic holds more than 41.8 million shares in BMP with ownership increases from 50.89 per cent to 51.1 per cent, cementing its position as the largest stakeholder in the plastic company.
It was said that Thailand’s plastic producer spent an approximate VND10 billion ($440,500) to increase the ownership at BMP. At the time of publishing the article, BMP was trading at VND59,000 ($2.6) apiece.
The SCG’s subsidiary earlier purchased an additional 29.51 per cent stake in Vietnamese plastic producer Binh Minh Plastic JSC (BMP), lifting its ownership to nearly 50 per cent after Vietnam’s sovereign wealth fund State Capital Investment Corporation (SCIC) had announced plan to offload its 29.51 per cent stake in BMP on March 9, kicking off a much-delayed divestment exercise.
Established in 1977, Binh Minh Plastics has cemented its position as the country’s leading manufacturer and trader of plastic pipes and fittings. BMP is among the 10 blue-chip companies – others include Vinamik and FPT – whose auctions were initially scheduled to be held by the end of 2017 but only Vinamilk’s auction plan came to fruition.
Also Read:
Thailand’s Nawaplastic seeks additional 29.51% stake in Vietnam’s Binh Minh Plastic
Vietnam to offload 29.51% stake in plastics producer Binh Minh
Vietnam: VinaCapital to wind up JV with DFJ, launch new fund in 2018
