Illustrative image (Source: Vietnam Airlines)
 
Hanoi (VNA) – The Vietnam Airlines Corporation has announced that it will issue over 191 million shares for existing shareholders at 10,000 VND each to increase its chartered capital. 

Proceeds will be used to invest in the company’s Boeing 787 and Airbus 350 fleet and raise its floating capital.

The decision was approved at an annual meeting of shareholders in June 2017.

According to Vietnam Airlines, State shareholders will also sell more than 57 million call options, or 4 percent of the stake.

The State will reduce its stake in the corporation to 51 percent in 2019.-VNA