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Vietjet raising funds with stake sale
Vietnamese low cost carrier Vietjet plans to sell off a 15% stake in the business to raise much needed funds. It will sell 81 million shares in a private placement but hasn’t disclosed the buyer. Based on current valuation it would bring in about US$400 million.
The airline will also issue international bonds worth about US$300 million on the Singapore Exchange this year. Vietjet is one of the very few airlines to post a quarterly profit in the first quarter of 2021 after a loss in 2020.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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