VinaCapital becomes major shareholder in Vietravel
Vietnam Travel and Marketing Transports JSC (Vietravel) said Wednesday that its largest shareholder Vietravel Corporation had transferred 1.78 million shares to investment management firm VinaCapital.
The transaction makes VinaCapital a major shareholder in Vietravel, registered on the unlisted public company market UPCoM as VTR, with a 10.3% stake.

A Vietravel Airlines aircraft. Photo courtesy of the carrier.
The transaction was performed on December 23 at a price of VND24,000 ($1) per share, higher than the market price of VND21,300 on Wednesday. The VTR stock is currently subject to restricted trading, meaning it can only be traded every Friday because the company has negative equity.
VinaCapital spent more than VND42.7 billion ($1.81 million) on the acquisition. Following the transaction, Vietravel Corporation now owns about 5.26 million VTR shares, equivalent to 30.38% of Vietravel.
A Vietravel representative said VinaCapital's investment in the business would create more opportunities for the company to expand its tourism services and diversify its business areas.
Vietravel has recently announced the transfer of more than 39 million shares, equivalent to a 30.22% stake the company was holding in Vietravel Airlines, to Vietravel Corporation as part of the corporation's restructuring plans.
The number of shares now owned by Vietravel in Vietravel Airlines has dropped to 17.8 million, equal to 13.7% of Vietravel Airlines' charter capital. Meanwhile, Vietravel Corporation has increased its ownership in Vietravel Airlines to 85.8%, becoming the latter's largest shareholder.
Also as part of this restructuring, Vietravel has sold off its stakes in World Transportation Services JSC (WorldTrans) and Cultural Development & Import-Export JSC (CDIMEX) to Vietravel Corporation.
Vietravel keeps its shares in companies directly related to tourism, including Viet Bees Events & Media JSC (Beevent), Vietravel Hue One Member Limited Company, Tripu Travel Service Limited Liability Company, and a number of travel firms operating in the U.S, Australia, France, Singapore, Cambodia, and Thailand.
Vietravel Airlines is the fifth commercial airline in Vietnam. It launched its first commercial flight in January 2021, linking Ho Chi Minh City with Hanoi. It also flies on several international routes, connecting South Korea, Taiwan, Thailand, and Singapore.
The passenger carrier has a fleet of three A321 aircraft, which would be doubled next year, its CEO Vu Duc Bien said, adding that the fleet expansion would also serve its cargo transport service.
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