VietJet share deal enables fleet expansion 

The move will raise nearly 1.9 trillion dong (Bt2.9 billion).
The decision was stated in the company’s shareholder resolution released last week.
Huong Duong Sunny Investment, a finance consultancy, will purchase the shares at 84,600 dong per share.
The deal will be undertaken in 2017 on approval of the State Securities Commission and those shares will be suspended from trading for a year from the issuance date.
The share issuance will increase VietJet’s chartered capital to 3.22 trillion dong. The income raised from share issuance will be used to lease and buy planes, invest in the IT system and other business activities.
Huong Duong Sunny Investment was founded in November 2016 with chartered capital of 1 billion dong by VietJet’s general director Nguyen Thi Phuong Thao.
The company holds nearly 44 million shares in VietJet, or 14.66 per cent of the aviation company’s chartered capital. These shares may have been purchased when VietJet sold 44.8 million of its shares to institutional investors at 84,600 dong per share and 3.5 million shares to individual investors at 86,500 dong a share.
According to sources, the purchase made by Huong Duong Sunny Investment is part of Vietjet’s initial public offering plan. Under the plan, the additional shares issued by Vietjet will be purchased by Thao or her company.
The quantity of additional shares is equal to half of the shares sold to institutional investors and the price of additional shares is equal to that of shares sold to institutional investors.
VietJet also said in its shareholder resolution that the company will set up subsidiaries and affiliates in jet leasing, airport services, franchising, e-commerce, and finance and insurance.
Shareholders approved the company’s listing on the HCM Stock Exchange.