SEC approves Yehey! introduction listing

MANILA, Philippines - The Securities and Exchange Commission has approved a plan by Vantage Equities Inc. to list its unit, Internet search portal Yehey!, by way of introduction.

Listing by introduction means a company can have its shares traded on the exchange without undertaking an initial public offering or IPO.

Based on its registration statement, Yehey! plans to list a total of 278 million shares with a par value of P1.

In April 2007, Vantage Equities declared a total of 84.786 million common shares as property dividends to shareholders on the basis of one Yehey! common share for every 20 Vantage common shares.

Incorporated on July 6, 1998, Yehey! has evolved into a digital marketing company that delivers effective marketing solutions in the digital space. It offers its clients digital marketing services to include Web design and development, Web management, media buying and planning, digital PR and reputation management, digital strategy, social media marketing, digital research and digital strategy.

The wide variety of its digital marketing services enables the company to capture new business from its existing customers and even attract new customers.

In most cases, Yehey! builds the websites and social media pages of customers. These sites are then used as the platform to engage the respective target market of its existing customers. Yehey! strategizes and develops marketing tool such as promotions, games, events, blogs, among others.

In the first quarter this year, Yehey! posted a net income of P3.27 million on revenues of P4.95 million. Total assets amounted to P40.93 million as of end-June 2012.