<article>Vietnam State has announced to transfer the right to buy 57.9 million of its shares in flag carrier <a href="https://www.dealstreetasia.com/tag/Vietnam-Airlines/">Vietnam Airlines</a> (HVN) in the auction which will be held on Hanoi Stock Exchange.</article>

Vietnam State has announced to transfer the right to buy 57.9 million of its shares in flag carrier <a href="https://www.dealstreetasia.com/tag/Vietnam-Airlines/">Vietnam Airlines</a> (HVN) in the auction which will be held on Hanoi Stock Exchange.
Under the plan, the transport ministry, which represents the State&#8217;s stake, will auction 371.5 million share purchase rights, equivalent to 57.9 million additional shares, in Vietnam Airlines’ upcoming share issue.
Investors who own 100 share purchase rights will buy about 15.57 shares of Vietnam Airlines, it said in an announcement.
The state-owned airline earlier announced plan to issue more than 191 million shares at VND10,000 ($0.4) apiece to current shareholders with the aim of increasing its charter capital.
The proceeds will be used to invest in the company’s Boeing 787 and Airbus 350 fleet and raise its floating capital.
The issue, which was expected to be held in the last quarter of 2017, however, has yet to be implemented.
In January 2017, Vietnam Airlines started listing and trading on UPCoM with HVN stock code. The carrier is in the process of accelerating equitization with a target to pare the state ownership to 51 per cent by 2020.
“The State currently owns 86.2 per cent stake of Vietnam Airlines and we are carrying out procedures to offer for sale 57.9 million shares to existing shareholders. The national carrier will also list its shares on the benchmark stock exchange in Ho Chi Minh City (HoSE) in the second quarter of this year,” CEO of Vietnam Airlines Duong Tri Thanh told local media.
In 2017, Vietnam Airlines’s total revenue stood at VND88.4 trillion ($3.9 billion), with pre-tax profit at a record VND2.8 trillion ($124.4 million), surpassing the annual plan by 72 per cent and 8.3 per cent higher than in 2016.
Also Read: 
<a href="https://www.dealstreetasia.com/stories/vietcombank-vietnam-airline-toong-bim-laos-93188/">Vietcombank sells Vietnam Airlines shares; Toong, BIM launch co-working ops in Laos</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/vietcombank-hopes-to-earn-21-2-million-from-selling-7-6-million-vietnam-airlines-shares-90888/">Vietcombank to offload 7.6m shares of Vietnam Airlines, hopes to net $21.2m</a>
<a href="https://www.dealstreetasia.com/stories/vietnam-airlines-in-talks-with-foreign-investors-for-selling-more-shares-86099/">Vietnam Airlines in talks with foreign investors for selling more shares</a>
&nbsp;

Vietnam State announces transfer of the right to buy 57.9 million of its shares in flag carrier Vietnam Airlines in auction to be held on Hanoi Stock Exchange.

State to transfer right to buy 57.9m shares in Vietnam Airlines

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

State to transfer right to buy 57.9m shares in Vietnam Airlines

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief