Vietravel mobilizes more than 340 billion to pay off bank debt

Vietnam Tourism and Transport Marketing Joint Stock Company ( Vietravel ) will offer more than 28.5 million shares. The proceeds will be used to pay off debts at four banks.

Vietravel Airlines' plane at Tan Son Nhat airport - Photo: HONG PHUC

Vietnam Tourism and Transport Marketing Joint Stock Company (Vietravel, UPCoM: VTR) has just announced information about the plan to offer shares and the plan to use capital raised from the offering.

Accordingly, Vietravel will offer more than 28.5 million shares, the lowest price per share is expected to be 12,000 VND. The total value of capital mobilized is expected to be nearly 343.9 billion VND.

The exercise ratio of rights, in the case of offering to existing shareholders, will be at a ratio of 1:1.

On the record date for exercising rights, a shareholder owning one share is entitled to one right and a shareholder owning one right is entitled to purchase one new share.

In this case, the additional shares issued are common shares and are not subject to transfer restrictions.

Vietravel plans to conduct the offering in the first half of 2025, after receiving a certificate of registration for public offering of securities from the State Securities Commission.

In addition to the offering to existing shareholders (at a 1:1 ratio), existing shareholders whose names are on the list on the record date can exercise the right to purchase issued shares.

The condition is not to transfer your stock purchase rights to others.

For fractional shares arising when exercising rights, the number of additional shares offered for sale that shareholders have the right to buy will be rounded down to the nearest unit.

Vietravel's Board of Directors will continue to search and select other investors to continue distributing the remaining odd shares and undistributed shares.

In case of offering to organizations, individuals and related persons less than 10% of the company's charter capital, domestic organizations and individuals with financial potential will be selected.

In this case, the shares offered to other investors will be subject to transfer restrictions for one year from the date of completion of the offering.

The entire proceeds from the stock offering of nearly VND343.9 billion will be used by Vietravel to pay off the company's loans.

Of which, the company plans to spend nearly 128 billion VND to pay Vietinbank branch 7, more than 113 billion VND to pay BIDV Bank branch 2 and the rest to pay MBBank branch 2 and TPBank HCM.

In the first 9 months of this year, Vietravel recorded net revenue of more than VND5,250 billion and parent company's after-tax profit of more than VND32 billion.

By the end of September 2024, the company's total liabilities were more than VND 2,257 billion (mostly short-term debt).

Source: https://tuoitre.vn/vietravel-huy-dong-hon-340-ti-de-tra-no-ngan-hang-20241226162130256.htm