Vietnam Airlines reopens auctions for Techcombank shares

Thursday, Oct 31, 2013 12:19

Vietnam Airlines announces to sell its Techcombank shares in December.— Photo

HA NOI (BizHub) — The national carrier Vietnam Airlines will sell more than 24 million shares it is holding in Techcombank on December 2, announced the Department of Hanoi Stock Exchange.

This is the second time the corporation has called for the auction after the first auction failed on September 26, as only one investor registered to buy.

The shares, accounting for 2.7-per-cent stake in the bank, will be auctioned at the Ha Noi Stock Exchange at an initial price of VND10,800 ($0.51) per share. In the first auction, shares were offered at VND12,100 ($0.57) per share.

Though no share sold in the first auction, Viet Nam Airlines had successfully sold all of its nearly 828,000 ten-year convertible bonds in the first auction to five investors, earning over VND109.8 billion($5.18 million).

The selling is included in the road map to withdraw capital from non-core lines of business, in accordance with a restructuring scheme approved by Prime Minister Nguyen Tan Dung for the 2012-15 period.— VNS


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