Yeah1 (YEG) plans to establish new e-commerce venture

Yeah1 (YEG) plans to establish new e-commerce venture

Yeah1 plans to hold a 9 per cent stake, equivalent to 450,000 shares, while its subsidiary Mango+ Entertainment and Media Co., Ltd. will hold 40 per cent, or 2 million shares. The remaining 51 per cent will be held by an undisclosed third party.

The move comes as Yeah1 restructures its portfolio of subsidiaries. — Photo antt.nguoiduatin.vn

Yeah1 and its subsidiary Mango+ are expected to jointly hold a 49 per cent stake in A&M Entertainment and Commerce JSC, a new company slated for establishment in October.

The board of directors of Yeah1 Group Corporation has approved a capital contribution plan to establish A&M Entertainment and Commerce JSC, which will operate e-commerce channels and exploit show formats, according to a disclosure on HoSE on Wednesday.

The new company is expected to have charter capital of VNĐ50 billion (US$1.9 million). Yeah1 plans to hold a 9 per cent stake, equivalent to 450,000 shares, while its subsidiary Mango+ Entertainment and Media Co., Ltd. will hold 40 per cent, or 2 million shares. The remaining 51 per cent will be held by an undisclosed third party.

With a combined 49 per cent stake through Yeah1 and Mango+, A&M will become an associate of Yeah1 upon completion of its establishment. The company is expected to be established within this year.

The move comes as Yeah1 restructures its portfolio of subsidiaries.

While reducing some investments, Yeah1 is also increasing resources for Mango+, which will participate in establishing A&M.

Yeah1's Board approved a plan to contribute an additional VNĐ26.4 billion to Mango+ on June 30, using funds from lawful sources, including debt and/or equity. Following the capital increase, Mango+'s charter capital rose from nearly VNĐ70 billion to VNĐ96.4 billion, with Yeah1 retaining 100 per cent ownership.

Established in 2023, Mango+ focuses on advertising and program production. According to Yeah1, the company is responsible for acquiring, commercializing and localising entertainment show formats from Mango TV, the group's strategic partner. 

Bizhub