Yeah1’s stock (YEG) to be put under surveillance

The Hochiminh Stock Exchange (HoSE) has decided to put the Yeah1 Group’s (YEG) stock under surveillance starting from April 12, having previously put it on alert, as the Group incurred huge net losses over the past two years.

The headquarters of Yeah1 Group in HCMC. The Hochiminh Stock Exchange has decided to put the Yeah1 Group’s stock under surveillance starting from April 12 – PHOTO: SGGPO

With this move, YEG’s shares will be entitled to a restricted transaction duration, which means they can only be traded in the afternoon phase from April 12.

The Group’s net losses in 2019 and 2020 were over VND385 billion and nearly VND182 billion, respectively. Also, its undistributed net profit as of December 31 last year was minus VND219 billion.

Earlier, according to the Group’s 2020 financial report, an audit agency had adjusted YEG’s net losses upward by VND29 billion.

As of last year, the Group’s total assets reached nearly VND1.3 trillion, down some 8.6% year-on-year. Its cash and cash equivalents plunged nearly 78% to reach over VND36 billion. Its surplus equity by the end of 2020 was some VND773 billion, dropping approximately 32% year-on-year.

By April 5, YEG’s stock contracted to stay at VND38,000, down 18% compared to its share price recorded at the beginning of this year. Recently, Nguyen Anh Nhuong Tong, board chairman of the Group, registered to sell 250,000 YEG shares from April 6 to May 4, aimed at reducing his ownership in the firm from eight million shares to 7.7 million shares, or a 24.7% stake.

The Saigon Times

YEG 22,050 -200 -0.90%

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