Vietnam Airlines share trades to be limited from Nov. 3 over losses

Vietnam Airlines share trades to be limited from Nov. 3 over losses

28/10/2021 7:56:00 AM

Vietnam Airlines share trades to be limited from Nov. 3 over losses

HANOI : Shares of Vietnam Airlines will be limited from trading on the Hochiminh Stock Exchange from Nov. 3, due to the flag-carrier's mounting losses, the bourse said in a filing. Vietnam Airlines' accumulated loss reach 17.7 trillion dong (US$782.25 million) as of end-June, the exchange said, adding tha

HANOI : Shares of Vietnam Airlines will be limited from trading on the Hochiminh Stock Exchange from Nov. 3, due to the flag-carrier's mounting losses, the bourse said in a filing.Vietnam Airlines' accumulated loss reach 17.7 trillion dong (US$782.25 million) as of end-June, the exchange said, adding that shares of the company will only be allowed to trade in the second half of the trading day.

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The company didn't immediately respond to a request for comment.Vietnam Airlines has been one of the hardest-hit firms in Vietnam during the COVID-19 pandemic. The national flag carrier is 86per cent owned by the state and plays a crucial role in the Southeast Asian country's business and tourism economy.

The company last month raised US$351 million from issuing new shares to its existing shareholders, after signing deals in July for loans worth US$173.8 million from three local banks to shore up its liquidity.Japan's ANA Holdings has an 8.77per cent stake in Vietnam Airlines, according to Refinitiv data. headtopics.com

(Editing by Martin Petty and James Pearson) Read more: CNA »

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