Lender NCB plans sale of Bamboo Airways shares for $47.7 mln

Private creditor National Citizen Bank (NCB) plans to offload 203 million shares in Bamboo Airways for VND1.12 trillion ($47.7 million) to divest from the Vietnamese carrier.

The Hanoi-headquartered lender wants to sell the shares at VND5,518 ($0.23) each. The shares are collateral for loans given to the carrier. The bank said the sale would fully cover the principal and interest, and the payment method would be negotiated with the buyers.

Earlier this month, NCB said it planned to sell 203 million shares in carrier Bamboo Airways, equivalent to a stake of almost 11% in the carrier.

Bamboo Airways currently has a charter capital of VND18.5 trillion (almost $789 million), equivalent to 1.85 billion shares.

At a Bamboo Airways extraordinary shareholder meeting on April 10, the airline's plan to increase its charter capital was denied by a 56.42% majority. The firm presented plans to issue 996.2 million shares in 2023 in order to raise nearly VND10 trillion ($425.55 million) and increase its charter capital to nearly VND28.07 trillion ($1.2 billion).