VinaCapital buys 10.3% stake in Vietravel

The deal was made on December 23 at a price of VND24,000 ($1) per share, more than 10% higher than its current market price of VND21,300.

The Hanoi Stock Exchange restricted trading in the VTR stock on the UPCoM market to Fridays since September 13 on account of negative equity.

After the sale to VinaCapital, Vietravel Holdings owns 5.26 million VTR shares, or 30.38% of the tourism company.

Vietravel reported profits of nearly VND7 billion ($282,000) in the third quarter after incurring losses during the two previous quarters.

The company reported revenues of VND1.49 trillion in the third quarter, 25 times up from a year earlier.

Its carrier, Vietravel Airlines, began a daily Hanoi-Bangkok service in mid-December, and plans to launch HCMC-Bangkok services in early February 2023.