Media network Yeah1 Group (YEG) has announced a two-for-bonus issue subject to approval at the annual general meeting.

YEG said its business continued to perform well and the company is on track to achieving its financial targets for the year.

In the first half of this fiscal year, its revenues grew 117.3 per cent year-on-year to VND679 billion (US$29.7 million).

It has sought approval from the State Securities Commission to remove its foreign ownership limit, which stands at 49 per cent.

This will enable it to get additional foreign investment.

Yeah1 Group was founded in 2006 and has grown across verticals and media channels.

It is now aggressively expanding into the region and beyond for its digital ambitions.

It has several successful divisions, leveraging on its massive community to build on its movie, television, digital and publishing business.

Yeah1 Group is Viet Nam’s first public listed media company and has a valuation of $400 million. — VNS