German fund to buy 1 million shares of Taseco

Monday, Jan 18, 2021 08:02

A souvenir shop run by Taseco at Noi Bai International Airport in Ha Noi. — Photo courtesy of Taseco

German investment fund PENM IV Germany GmbH & Co.KG is about to acquire additional one million shares of Taseco Air Services JSC (AST).

The transaction will be conducted from January 19 to February 9.

After the purchase, the fund will increase its ownership from 17.42 per cent to 19.64 per cent of charter capital in Taseco.

PENM IV Germany GmbH & Co.KG bought 105,910 AST shares from December 15, 2020, to January 13, 2021. On December 9 last year, the organisation purchased 169,970 AST shares.

In the first nine months of 2020, Taseco recorded net revenue of more than VND296.8 billion (US$13 million), down 64.9 per cent compared to the same period in 2019.

Of the estimate, revenue from outlets at domestic terminals was more than VND149.5 billion and international terminals VND147.3 billion, down by 47.25 per cent and 73.75 per cent year-on-year, respectively.

Due to lower revenue, Taseco reported a loss of VND28.69 billion after the first nine months of the year.

In the same period of 2019, the company gained VND154 billion in profit. The COVID-19 pandemic has affected the entire tourism sector and aviation services industry.

Taseco operates in the airport commercial services field in Viet Nam. It provides restaurant and mobility catering, as well as hotel and advertising services.

The company also offers telecommunication retailing services, road passenger transport services, travel agency, tourism operations, and short-term lodging services, massage services, and foreign exchange services. It is also involved in retailing in general trading stores, and trading of souvenirs, alcohol, tobacco, and confectioneries, as well as in other supporting activities.

The company, headquartered in Ha Noi, was formerly known as Taseco Noi Bai Air Services Joint Stock Company and changed its name to Taseco Air Services Joint Stock Company in May 2017. — VNS

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