<article>DFJ VinaCapital-backed entertainment group <a href="https://www.dealstreetasia.com/tag/Yeah1/">Yeah1</a> has announced that it plans to raise up to $100 million by selling over 7 million shares to strategic investors, as it seeks a market cap of about $400 million, local media reported.</article>

DFJ VinaCapital-backed entertainment group <a href="https://www.dealstreetasia.com/tag/Yeah1/">Yeah1</a> has announced that it plans to raise up to $100 million by selling over 7 million shares to strategic investors, as it seeks a market cap of about $400 million, local media reported.
In a disclosure on its official website, Yeah1 said it will issue 3.57 million shares from the owner&#8217;s equity to investors for the first time and issue more than 3.9 million shares to Nguyen Anh Nhuong Tong, Chairman of the Board of Directors, to complete the capital increase.
The capital raising will be conducted before its listing debut which will see about 27.4 million shares, equivalent to VND274 billion ($12 million) of charter capital, trade on the Ho Chi Minh City Stock Exchange.
Yeah1 would be the first local entertainment company to list on the stock market. Apart from the listing, the group is also planning to increase the ownership ratio of foreign investors to 100 per cent.
Several global investors such as Capital Asset Management, Central Group Vietnam, Probus Group and TT International have registered to buy more than 70 per cent of the shares, the company revealed.
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 Tong, who holds a 41.4 per cent stake. Other investors include DFJ-VinaCapital (35.71 per cent), Ancla Assets (12.49 per cent) and the group’s CEO Dao Phuc Tri (4.37 per cent).
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 cancelled because only one investor registered to attend the auction.
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The capital raising will be conducted before its listing debut which will see about 27.4 million shares trade on the Ho Chi Minh City Stock Exchange.

Vietnam: DFJ VinaCapital-backed Yeah1 seeks to raise $100m from share sale

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Vietnam: DFJ VinaCapital-backed Yeah1 seeks to raise $100m from share sale

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