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VietJet says to sell 15% stake and raise $ 300 million through international bond sales By Reuters

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© Reuters.

By Khanh Vu

HANOI (Reuters) – Vietnam’s VietJet Aviation said on Tuesday it plans to sell up to a 15% stake through a private placement and raise $ 300 million through an international bond sale to boost the airline’s financial capacity. low-cost when travel markets revive.

The company’s shareholders approved the plan in a meeting on Tuesday, VietJet said in a statement.

The fundraising is part of their efforts to “ensure that VietJet has sufficient resources for safe and effective development when the market recovers,” the company said.

He said shareholders also approved a plan to sell 10 million new shares to his staff, without giving a deadline.

VietJet, which has a market capitalization of $ 2.82 billion, said it is targeting a 20% increase in revenue this year to 21.9 trillion dong ($ 951.35 million).

The company reported a net profit of $ 68 billion last year.

VietJet Chairman and CEO Nguyen Thi Phuong Thao said in an interview earlier this year that the airline planned to expand its investment in new aircraft and technical facilities this year.

($ 1 = 23,020 dong)

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