Major investors gradually withdrew their investment capital from the company dubbed the “unicorn” of the Vietnamese media industry.
According to the Ho Chi Minh City Stock Exchange (HOSE), investor Tran Uyen Phuong sold 1.36 million YEG shares of the Yeah1 group on August 5 and 9 to reduce its stake in Yeah1 to 14.5% of the capital, ie the equivalent of 4.56 million shares.
Previously, on July 28, Phuong had sold 251,600 YEG shares.
The price was not made public, but during this period the price of YEG fluctuated between 15,000 VND and 16,000 VND per share. At the time Phuong bought YEG, the price was 50,000 VND per share.
YEG was listed in mid-2018 at a price of VND 300,000 / share, which is equivalent to more than VND 9,000 billion in capitalization. The stock plunged to 15,500 VND / share, which equates to a market cap of 500 billion VND, which means a loss of over 8 trillion VND in market capitalization.
Yeah1’s share price fell as the parent company suffered losses in two consecutive years, with negative after-tax profit of over VND 385 billion in 2019 and nearly VND 182 billion in 2020. The retained earnings after tax as of December 31, 2020 was negative. 219 billion dong.
After being forced to give up the game in Hollywood and temporarily put aside its billion dollar ambition, the business firm of media and television mogul Nguyen Anh Nhuong Tong suffered losses when the segment of the media business has done business below cost and selling costs have increased dramatically.
Recently, many Vietnamese tycoons have also encountered difficulties in expanding investments in other areas.
Thaco owner Tran Ba Duong ran into difficulties and had to part ways with Hung Vuong Seafood JSC (HVG) after about a year of paying money into the former fish tycoon tra (pangasius ).
Many major shareholders, including strategic shareholder ThaiBev in Sabeco, have witnessed a decline in assets due to the fall in the Sabeco share price due to many factors, such as the impact of the Covid-pandemic. 19 and the publication of Decree 100 on the control of participants in trafficking. who drink alcohol.
Pyn Elite Fund and VinaCapital also lost money with their investment in Tasco (HUT). In previous years, many foreign shareholders suffered heavy losses as a result of their investment in HAG shares.
In another development, Tan Lien Phat, an investor linked to the Vingroup ecosystem, had to stop the investment deal in Truong Thanh Wood (TTF).
VN’s stock market could be at the start of decades-long growth
The Vietnamese stock market has reached historic highs in terms of points and liquidity, still has huge growth potential and may even be at the start of a decades-long surge, according to investment fund VinaCapital.