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Banking & Finance

HDBank to buy additional 2.54mn Vietjet shares

Released at: 14:27, 20/09/2017

HDBank to buy additional 2.54mn Vietjet shares

Illustrative image (Source: Vietjet)

Bank's holding in carrier to increase to 4.95% if purchase proceeds.

by Doanh Doanh

HDBank has announced it has registered to purchase an additional 2.54 million shares in the Vietjet Aviation JSC (VJC) from September 21 to October 13, according to an announcement from the Ho Chi Minh Stock Exchange (HSX).

The transaction will be done via order matching or agreement.
If the purchase is completed, HDBank’s stake in Vietjet will rise to 4.95 per cent. The bank was a founding shareholder in the carrier and the new investment is good news for the bank.
Vietjet is ready to close the list of shareholders to distribute 40 per cent bonus shares on September 25. It shares are now trading at VND137,100 ($6), up 52.3 per cent since it was listed on February 28.
Total revenue in the first half of this year was VND16.39 trillion ($745 million), up nearly 31 per cent year-on-year. Revenue in the second quarter reached VND11.283 trillion ($512.86 million), up 89 per cent year-on-year.

Consolidated pre-tax profit was VND1.482 trillion ($67.36 million) in the second quarter and VND1.9 trillion ($86.36 million) in the first half, up 44.7 per cent.

In its latest report, MBS Securities wrote that revenue could reach VND38.446 trillion ($1.7 billion) and after-tax profit VND3.695 trillion ($162.5 million) this year, 8.8 per cent higher than the target, with earnings per share expected to be VND11,464 ($0.5).

Vietjet Air officially listed on HSX on February 28. The first airline in Vietnam to be listed on the stock market, its capitalization stood at VND27 trillion ($1.2 billion) as at February 15, accounting for 1.5 per cent of HSX’s total capitalization.

The airline joins the ranks of the “VN 30”; Vietnam’s largest publicly-traded companies in terms of market capitalization.

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