FLC uses Bamboo Airways shares as collateral
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Property developer FLC will use nearly 155 million Bamboo Airways shares as collaterals for loans from lender OCB, repeating a decision it made three years ago.
The company will also use golf project FLC Quang Binh Golf Links as collateral for the loans from the same bank.
FLC used a total of nearly 155 million Bamboo Airways shares as collateral for OCB loans five times in 2020.
The developer has invested VND4.02 trillion in the carrier for a 21.7% stake. It is set to sell the stake, partially or fully, to a buyer who has yet to be revealed.
Questions & Answers
Q.Which specific assets is FLC using as collateral for the OCB loans this time?
Which specific assets is FLC using as collateral for the OCB loans this time?
FLC is using nearly 155 million Bamboo Airways shares and the golf project FLC Quang Binh Golf Links as collateral for the loans from OCB.
Q.How much has FLC invested in Bamboo Airways, and what is their current stake?
How much has FLC invested in Bamboo Airways, and what is their current stake?
FLC has invested VND4.02 trillion in Bamboo Airways. This investment provides them with a 21.7% stake in the carrier.
Q.Is FLC planning to retain its ownership in Bamboo Airways?
Is FLC planning to retain its ownership in Bamboo Airways?
No, FLC is set to sell its stake in Bamboo Airways. This sale could be either partial or full, though the buyer remains unrevealed.