Vietnam Airlines seeks to continue HoSE listing despite losses

By Anh Tu   September 27, 2021 | 04:00 am PT
Vietnam Airlines seeks to continue HoSE listing despite losses
A Vietnam Airlines aircraft lands at Tan Son Nhat International Airport in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnam Airlines has requested its stock remains listed on main bourse HoSE despite recording losses due to Covid-19.

The national flag carrier recently requested the government to allow ticker HVN to continue trading on the Ho Chi Minh Stock Exchange (HoSE), where the biggest companies in the country are listed, although it could record negative equity in a "short" period.

Vietnam’s Securities Laws state a company that has an accumulated loss exceeding its charter capital or recording negative equity in the latest annual financial earnings report be considered for delisting.

The company recorded a negative VND2.75 trillion ($120.43 million) in equity in the second quarter.

It also requested more support solutions to help it recover. It wants to reopen international flights soon to countries deemed Covid safe and to apply vaccine passports to those who are fully vaccinated.

Vietnam Airlines, in which the state holds a 86 percent stake, recorded an accumulated loss of VND17.77 trillion ($780.48 million) as of June 30.

It had recently issued nearly 800 million shares to increase its charter capital by 56 percent to VND22.14 trillion.

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