According to the announcement, Hung Thinh Corporation sold all 6 million VTR shares of Vietnam Tourism and Transport Marketing Joint Stock Company (Vietravel). After this transaction, Hung Thinh no longer holds shares in Vietravel even though it previously owned 20.94% of capital and was the largest shareholder. The transaction was completed on March 13. It is estimated that at the closing price of VND22,400, Hung Thinh can earn more than VND134 billion.
Hung Thinh Corporation divests capital at Vietravel
PHOTO: VTR
Previously, in February 2023, Vietravel announced the completion of a private issuance of 6 million shares to convert a debt of VND 168 billion borrowed from Hung Thinh Corporation. The issuance price is VND 28,000 and is restricted from transfer within one year. The debt that Vietravel borrowed from Hung Thinh from November 2021 has a term of 6 months, with an interest rate of 11.5% per year. The collateral is 6 million VTR shares.
On the other hand, on the same day, March 13, Vietravel recorded an individual named Nguyen Thuy Tien buying 6 million shares. This person was explained that he did not hold any position in the company and had no relationship with any individuals or organizations related to Vietravel.
According to HNX statistics, the trading session on March 13 recorded 6 million VTR shares traded by agreement, worth VND168 billion. After the transaction, Ms. Nguyen Thuy Tien replaced Hung Thinh Group to become the largest shareholder of Vietravel with a 20.94% ownership ratio. This individual's ownership ratio is larger than Chairman of the Board of Directors Nguyen Quoc Ky (10.98%), Vietravel Group (14.28%) or VinaCapital (10%).
Recently, the Board of Directors of Vietravel issued Resolution No. 460 approving the implementation of the plan to offer shares to the public, the plan to use capital raised from the offering, and the plan to ensure that the offering of shares meets the regulations on foreign ownership ratio. Specifically, Vietravel plans to issue nearly 28.66 million shares to existing shareholders at a ratio of 1:1 (shareholders owning 1 share are entitled to 1 right, for every 1 right they can buy 1 new share) at an offering price of VND 12,000/share. The total value of mobilized capital is expected to be nearly VND 344 billion. The offering period is in the first quarter - second quarter of 2025 after the State Securities Commission grants a certificate of registration for public offering of securities.
Source: https://archive.vietnam.vn/tap-doan-hung-thinh-thoai-von-khoi-vietravel/
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