According to Investing.com, three fund management companies spent VND 2.45 trillion to purchase Vietjet Airlines shares.

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©Reuters

According to Donghai

Investing.com – Vietjet Air Joint Stock Company (HM:) announced information regarding plans to implement a private placement of shares. Accordingly, Vietjet Air will sell up to 24.5 million shares (accounting for 4.5% of the issued shares) to domestic professional investors at a price of VND 100,000 per share.

The shares are expected to be sold in the fourth quarter of 2023 and are subject to transfer restrictions within one year from the date of successful sale. The list of investors who purchased VJC shares includes:

  • Leadvisors Fund Management AG (13.5 million shares)
  • Amber Fund Management Co., Ltd. (7.2 million shares)
  • Thanh Cong Fund Management Co., Ltd. (3.8 million shares)

Currently, none of these organizations holds shares in VJC.

In terms of the use of funds, Vietjet will replenish equity capital to improve financial capabilities, operational scale and competitiveness; and lay the foundation for sustainable, safe and effective development after the epidemic. Accordingly, with total revenue of VND245 million, Vietjet Air will spend VND171.5 million to pay deposits for aircraft purchases and VND735 billion to pay rent for aircraft leasing and engine leasing units.

In addition to bond capital, on October 30, Vietjet Air’s board of directors also approved a plan to privately issue VND3 trillion in bonds to implement plans to pay for gasoline and oil operating costs, ports, flight operations, engineering, insurance, Aircraft deposit payment and other fees.

The bond issuance has a term of 60 months, is non-convertible, does not include warrants, and has no collateral.

The fixed interest rate for the first two interest periods is 10.5%/year, and the interest rate for the remaining periods is calculated based on the sum of the margin of 3.5%/year and the reference interest rates of 4 banks, including: HDBank (HM:), Vietcombank (HM:), Vietinbank (HM:), BIDV (HM:).

According to the latest financial report, Vietjet Air safely operated 36,000 flights in the third quarter and transported 6.8 million passengers, including more than 2.3 million international passengers, an increase of 10% from the first quarter. In March 2019, the previous period compared with the third quarter of 2022, Covid-19 increased by 127%.

Vietjet Air’s revenue in the last quarter exceeded VND14,230 billion, and its after-tax profit was VND55 billion, a year-on-year increase of 23% and 30% respectively. In the first nine months of this year, Vietjet Air achieved revenue of VND 43.74 trillion, an increase of 60% over the same period last year, and after-tax profits exceeded VND 190 billion.

Vietjet Air’s fleet has 103 aircraft, of which 18 are operated by Vietjet Air in Thailand and 2 new aircraft are being delivered. In the third quarter, Vietjet Air opened 7 new international routes, bringing the total number of routes to 125, including 45 domestic routes and 80 international routes.

Previously, during the official visit of the US President to Vietnam, Vietjet Airways and Boeing Co. (LON:) signed an agreement to deliver 200 737 MAX aircraft in the next five years, worth US$25 billion, as well as an aircraft sponsorship agreement with a total value of The Carlyle Group invested US$550 million.

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