Prime Minister approves interest-free loan from Vietnam Airlines
Vietcombank buys new Vietnam Airlines shares for $ 3.6 million
17.09.2021 – 06:04 UTC
Vietcombank, a Vietnamese-majority state-owned commercial bank, has signed to buy 8.35 million shares in Vietnam Airlines (VN, Hanoi) as part of a deal valued at VND 83.5 billion ($ 3.6 million), he announced in a stock market publication.
In the struggling flag bearer rescue program of VND 12 trillion (US $ 528 million) approved by the National Assembly Last year, Vietnam Airlines was authorized to issue new shares worth VND 8 trillion ($ 352 million) to existing shareholders to raise capital.
With a stake of 14.8 million shares, Vietcombank’s acquisition of an additional 8.35 million is expected to close by September 17. This will bring its stake to 23.1 million shares, or the equivalent of 1.044% of the airline’s charter capital.
Earlier this week, as indicated previously, Vietnam’s sovereign wealth fund, State Capital Investment Corporation (SCIC), also bought the rights offer from Vietnam Airlines as part of the state-led efforts to save the airline. It paid 6.89 trillion VND ($ 303 million) to acquire 689.5 million shares, so that it now owns “at least 31.08% of the charter capital of Vietnam Airlines”, he said. -he declares.