Government approves rights to purchase Vietnam Airlines’ shares
Vietnam Airlines Corporation has secured the approval of the Ministry of Transport (MoT) to proceed with its plan to transfer the rights to purchase additional shares of its State shareholders.
The Ministry of Transport (MoT) will transfer its rights to purchase shares additionally issued by the Vietnam Airlines Corporation through auction at the Ha Noi Stock Exchange.
Under its plan, the ministry, as Vietnam Airlines’ State stakeholder, will auction 371.5 million share purchase rights, an equivalent to 57.9 million additional shares in Vietnam Airlines’ upcoming share issue.
Individual and organisations, including overseas Vietnamese and foreigners who meet the conditions as prescribed by the law, will be eligible to buy the rights.
In July 2017, Vietnam Airlines decided to issue over 191 million shares to existing shareholders at the ratio of 15.57 per cent to raise charter capital. The issue, expected in the last quarter of 2017, however has yet to be implemented.
The State now holds 86.16 per cent of Vietnam Airlines charter capital which is nearly VND12.3 trilion after equitisation. If the State shareholder do not excercise their rights to purchase shares in Vietnam Airlines’ upcoming share issue, the State ownership in the national flag carriers will decrease.
Vietnam Airlines shares, trading on the Unlisted Public Company Market (UPCoM) under the sticker HVN, close Tuesday’s trade at VND48,100 (US$2.11) per share, down 5.9 per cent from the previous session. — VNS
