Monday , July 15 2024

Vietravel stock restricted to Friday trading

The Hanoi Stock Exchange has restricted trading in VTR stock of tour operator Vietravel on the UPCoM market to Friday sessions from Sept. 13 on account of negative equity.

As of June 30, Vietravel’s equity was a negative VND104 billion ($4.42 million), and its accumulated losses were around VND300 billion after the two Covid-affected years.

In the first six months of this year, Vietravel saw its revenues double year-on-year to VND1.2 trillion, while its losses halved to VND114 billion.

It plans to issue 12 million shares and convertibles to raise its charter capital and raise money to boost post-Covid recovery.

Vietravel said it finished all the paperwork for the issuance and was seeking approval from the State Securities Commission, Vietnam’s security watchdog.

Issuance is expected to begin in the third quarter, it said.

VTR of Vietravel traded at VND28,400 a share at the end of Friday’s session on the Unlisted Public Company Market (UPCoM), down 25% from its peak in February.

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