Vietjet eyes 15 pct stake sale
In this article (5)
Budget carrier Vietjet Air plans to sell a 15 percent stake in a private placement.
It plans to sell 81 million shares at the average price of at least the last 10 sessions on the stock market but has not disclosed the timing or buyer’s identity.
As of Tuesday, the average figure was VND115,700 ($5.02), putting the value of the deal at over VND9.3 trillion ($403 million). There will be a lock-up period of one to three years when the shares cannot be sold.
Vietjet also plans to issue $300 million worth of international bonds on the Singapore Exchange this year.
So far this year it has raised a total of VND2 trillion via bonds.
In the first quarter it reported a post-tax profit of VND123 billion against a loss of VND989 billion in the same period last year.
Questions & Answers
Q.What is the expected value of Vietjet Air's planned stake sale?
What is the expected value of Vietjet Air's planned stake sale?
Based on the average share price of the last 10 sessions, the deal is valued at over VND9.3 trillion, which equates to approximately $403 million. This figure is derived from selling 81 million shares.
Q.Will the buyer of the 15 percent stake be able to sell their shares immediately?
Will the buyer of the 15 percent stake be able to sell their shares immediately?
No, there will be a lock-up period of one to three years during which the shares cannot be sold. The article does not disclose the buyer's identity or the exact timing of the sale.
Q.How much has Vietjet Air raised through bonds this year, and what are their future bond plans?
How much has Vietjet Air raised through bonds this year, and what are their future bond plans?
So far this year, Vietjet Air has raised VND2 trillion via bonds. They also plan to issue $300 million worth of international bonds on the Singapore Exchange sometime this year.
Q.How did Vietjet's financial performance in the first quarter this year compare to the same period last year?
How did Vietjet's financial performance in the first quarter this year compare to the same period last year?
In the first quarter of this year, Vietjet reported a post-tax profit of VND123 billion. This is a significant improvement compared to a loss of VND989 billion in the same period last year.
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