|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|
Hue also asked VTVCab to keep its corporate value at nearly VND4 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 Viet Nam (SAV).
In May 2017, the SAV reported that the corporate value of VTVCab might have been undervalued and suggested the accurate number was VND4.27 trillion.
According to the auditors, the value of the State capital in VTVCab also rose by VND278 billion to VND2.68 trillion compared to the previously reported number of VND2.4 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 VND2 trillion in net revenue and VND68.5 billion in post-tax profit.