Sovico Holdings, which is 52 per cent owned by Vietjet Air CEO Nguyen Thi Phuong Thao, will increase its ownership in the budget airline to 7.59 per cent while SCIC has offloaded 500,000 shares of Military Bank.
Sovico increases ownership in Vietjet Air
Nguyen Thi Phuong Thao owns 39.6 million shares, equivalent to an 8.76 per cent stake in the airline.
According to an announcement on Ho Chi Minh Stock Exchange, the transaction will take place from March 26 to April 25. If the transaction is successful, Sovico will increase its holding in Vietjet Air from 20.58 million to 34.2 million shares, equivalent to 7.59 per cent of its charter capital, becoming a major shareholder of the budget airline.
Going by the current stock price of VND203,000 ($8.98), it is expected that Sovico will spend approximately VND2.8 trillion ($123.2 million) to up its ownership in the airline.
Sunflower Sunny Investment Company Limited, wholly-owned by Thao, is the largest shareholder of Vietjet Air with 129 million shares, equivalent to a 28.57 per cent stake. HD Bank, of which Thao is the permanent vice-chairman, also owns a 5 per cent stake in the low-cost carrier.
Sovico Holdings, co-founded by billionaire Thao, has a charter capital of VND3 trillion ($132 million). It holds stakes in Vietjet Air, HDBank, Phu Long Real Estate Company, An Lam Ninh Van Bay Resort in Nha Trang, Evason Ana Mandara Resort in Nha Trang, Furama Resort Danang and Furama Villas Danang.
SCIC sells 500,000 shares of MBBank
SCIC Investment Company (SIC), a subsidiary of Vietnam’s sovereign wealth fund State Capital Investment Corporation (SCIC), has announced the sale of 500,000 million shares of Military Bank (MBBank). It expects to earn approximately VND18 billion ($792,000) from the sale.
The transaction is expected to take place between March 23 and April 20, according to Ho Chi Minh Stock Exchange. If the transaction is successful, SIC will reduce its stake in MBBank to 1.15 million shares, equivalent to a 0.06 per cent stake.
SIC spent about VND7 billion ($308,000) to buy MBBank’s shares in 2016. At the current stock price of around VND36,000 ($1.59) per share, SIC’s profit after the sale is expected to reach VND10 billion ($440,000).
SCIC currently owns an 11.05 per cent stake in MBBank.
Founded in 1994, Hanoi-based Military Bank provides various personal and corporate banking services for organizations and individuals in Vietnam and internationally.