The total number of shares that foreign shareholders are holding at Vietjet Air accounting for more than 24% of charter capital.
Recently, Vietnam’s Deputy Minister of Transport has signed a written approval for Vietjet’s 5 shareholders to transfer 66,506,870 shares, equivalent to 22.169% of the charter capital of 3,000 billion VND to 23 foreign investors.
Earlier, in December 2016, the Ministry of Transport has also agreed for 1 Vietjet’s shareholder to transfer 6.566 million shares, equivalent to 2.626% of charter capital for 3 foreign investors, who are: Wareham Group Limited (British Virgin Island), Dragon Capital Markets Limited (Cayman Island) and DC Developing Markets Strategies Public Company (Ireland). The amount of transferred money was not revealed, but ranged from 65 billion VND to 788 billion VND. The transfer has been completed and aproved by the Department of Planning and Investment of Hanoi on December 22nd 2016.
In total, the transfer of shares to foreign investors has reached 24.358% of charter capital.
According to Vietnam Civil Aviation Administration, the transfer of shares to foreign investors of Vietjet is valid. The transfer does not increase the charter capital of Vietjet, foreign investors do not participate in the executive apparatus, management operations and administration works of Vietjet and therefore it does not alter the business plan and development strategy of Vietjet.
Relating to the transfer of shares to foreign investors, according to Decree 92, the foreign parties cannot occupy more than 30% of charter capital and foreign members shall not exceed 1/3 of the total number of members participating in the executive apparatus.
Vietjet Air is the first airline in Vietnam operating under the model of the new generation airline, with low cost and provides a variety of services for customers to select. Vietjet is an official member of the International Air Transport Association (IATA) with IOSA safety operation certificate. Besides the position of “Top 500 Leading Brands in Asia in 2016”, Vietjet is voted as “Best Asian Low Cost Carrier” in 2015 by the TTG Travel Awards and Top 3 airlines that have fastest growth facebook fanpage in the world, evaluated by SocialBakers.
Currently, Vietjet is operating 42 A320 and A321 aircrafts, performed about 350 flights a day and has transported nearly 35 million passengers, with 60 routes covering destinations in Vietnam and international routes to Hong Kong, Singapore, Korea, Taiwan, China, Thailand, Myanmar, Malaysia, Cambodia…
Vietjet has planned to develop extensive flight network throughout Asia – Pacific region. Moreover, they are studying for further expansion of routes in the region and has signed procurement contracts to purchase new generation aircrafts.
ANT Consulting is here to assist you from the outset; providing corporate intelligence, risk advisory, management consulting services that assist market entrance, and ensure efficient business start-up operation. Our services are as following:
We strive to save your cost by guiding you towards economical solutions that comply with local legislation and procedures. We support you through early logistic solutions and carry you through as your business grows. We aim to bridge the gap between international best practices and local cultures and assist foreign companies and organizations entering Vietnam market to overcome commercial and regulatory issues.
We could be reached at email: email@example.com or tel: +848 3520 2779 . To learn more about us, please visit www.antconsult.vn