HDBank to further reduces stake in Vietjet

By Minh Son   September 23, 2023 | 02:30 am PT
HDBank to further reduces stake in Vietjet
Ground staff check a Vietjet airplane before departure at Noi Bai International Airport in Hanoi. Photo by Reuters/Kham
HDBank has registered to sell eight million shares of group company and low-cost carrier Vietjet, its second such divestment this year.

It plans to sell the shares through auction or put-through transactions between September 26 and October 24, paring its ownership in Vietjet to 10.8 million shares, or 2%.

Based on current prices, the sale is expected to fetch around VND800 billion (US$33.8 million).

In June-July it had sold eight million Vietjet shares.

The divestment is based on HDBank’s road map to reduce its non-banking interests as part of an industry-wide restructure to handle bad debts.

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