The Vietnam Technological and Commercial Joint-stock Bank (Techcombank) has sold 21 million shares of the Vietnam Airlines Company Limited (Vietnam Airlines), according to the Hanoi Stock Exchange (HNX).

During the transaction period from February 23 to March 1, 2017, Techcombank finished divesting from Vietnam Airlines, leaving around 40 millions floating shares coded HVN.

The bank currently owns 18,705 shares, equal to 0.0015 percent of Vietnam Airlines’ charter capital.

Since February 22, HVN shares have decreased in value by 16 per cent, with only one instance of increase on February 22.

During Techcombank’s selling session, the price fluctuated from VND33,000 to VND37,000 (US$1.48 to $1.66) per share.

Comparing the average divestment price of VND35,000 ($1.57) for this session and VND39,000 ($1.75) for the previous sale of 3.8 million HVN shares, Techcombank has marked an estimated gain of VND330 billion ($14.8 million).

The Ministry of Transport holds 86.16 per cent of Vietnam Airlines shares, while the company’s key shareholder, Japan based ANA Holdings Inc., holds another 8.77 per cent.

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) also holds 1.83 per cent of HVN shares, around 22.4 million shares.

From February 14 to 20, 2017, Techcombank has successfully sold 3.8 million HVN shares using the call auction method. — VNS