Sovico registers to buy 13.7 million Vietjet shares (VJC)
Sovico registers to buy 13.7 million Vietjet shares (VJC)
Sovico Holdings Company registered to purchase nearly 13.7 million shares of Vietjet Aviation Joint Stock Company (VJC) between March 26 and April 25.
Sovico is a founding shareholder of the budget airline, owning 4.56 per cent of Vietjet’s capital. If the transaction is successful, Sovico will increase its ownership to 34.3 million shares, equivalent to 7.59 per cent, and become a major shareholder in Vietjet.
Currently, Nguyen Thi Phuong Thao, Vietjet’s general director and chairman of Sovio, holds 8.76 per cent of Vietjet’s capital. Her private company, Huong Duong Sunny Investment Co Ltd, is the largest stakeholder with 28.57 per cent.
HDBank, where Thao is vice president, owns another 4.95 per cent, while her relatives possess a combined 2 per cent.
Thus, after the transaction, Thao and her related companies and individuals will likely hold nearly 52 per cent of Vietjet’s capital.
At the end of 2017, the airline’s revenue totaled VND42.3 trillion, up 53.7 per cent year-on-year. Its pre-tax profit reached nearly VND4.8 trillion, up 75.9 per cent over last year and surpassing the yearly target by 26 per cent.
Vietjet increased the dividend ratio for 2017 from 50 per cent to 60 per cent and had paid VND1.35 trillion to pay 30 per cent dividends last year.
