Deputy Prime Minister Vuong Dinh Hue has allowed the Viet Nam Television Cable Corporation (VTVCab) to set its deadline for an initial public offering (IPO) on September 30.— Photo vtvcab-hcm.com
HÀ NỘI — Deputy Prime Minister Vương Đình Huệ has allowed the Việt Nam Television Cable Corporation (VTVCab) to set its deadline for an initial public offering (IPO) on September 30.
Huệ also asked VTVCab to keep its corporate value at nearly VNĐ4 trillion (US$177.78 million), which was reported by VTVCab at the end of 2015, and the cable television provider is not required to adjust its value as per the report of the State Audit of Việt Nam (SAV).
In May 2017, the SAV reported that the corporate value of VTVCab might have been undervalued and suggested the accurate number was VNĐ4.27 trillion.
According to the auditors, the value of the State capital in VTVCab also rose by VNĐ278 billion to VNĐ2.68 trillion compared to the previously reported number of VNĐ2.4 trillion by VTVCab.
The cable television provider was founded in 2012 under direct management of the Vietnam Television. The company mainly provides pay-TV services, advertisements and wired telecommunication services.
In 2016, the company recorded VNĐ2 trillion in net revenue and VNĐ68.5 billion in post-tax profit. — VNS