Vietnamese private lender HDBank has registered to sell another 8 million VJC shares of Vietjet in October, its second divestment from the low-cost airline this year, said the bank.
The shares, listed on the Ho Chi Minh Stock Exchange (HoSE), will be sold from September 26 to October 24 under the throughput or order matching methods.
The sale of shares follows the bank’s roadmap to reduce investment outside the banking industry, in line with the State Bank of Vietnam’s policy of restructuring credit institutions associated with bad debt settlement in the 2016-2020 period.
If the transaction is successful, HDBank's ownership in Vietjet will decrease to 2%, equivalent to 10.8 million shares. With the current VJC market price, it is estimated that HDBank can collect nearly VND800 billion ($32.82 million) from the divestment.
Previously, between late June and early July, the bank successfully sold 8 million VJC shares.
HDBank targets a pre-tax profit of VND13.2 trillion ($562 million) in 2023, up 29% over last year's performance.
Its 2023 its total assets are expected to reach VND520 trillion ($22.15 billion), up 25% year-on-year; while charter capital will rise to VND29.3 trillion (nearly $1.25 billion), up 16%. HDBank aims to keep its bad debt ratio under 2% this year.
On the HoSE, HDB closed Friday at VND17,550 ($0.72) while VJC finished at VND97,600 ($4).