HCMC – Vinpearl, a member hospitality company of Vingroup, has announced plans to transfer 90 million shares of its parent corporation (HOSE: VIC) to fulfill obligations to international bondholders.
According to a transaction notice recently sent to the State Securities Commission, Vinpearl JSC (HOSE: VPL) will execute the ownership transfer of over 90 million VIC shares. The transaction is scheduled to take place from March 12 to April 10 via an off-exchange transfer through the Vietnam Securities Depository and Clearing Corporation.
While the par value of the shares stands at around VND900 billion (US$34 million), their current market valuation is estimated at roughly VND14 trillion. This calculation is based on VIC’s closing price of VND156,000 per share as of March 6. Upon successful completion of the deal, Vinpearl’s stake in Vingroup will be halved, dropping from 2.26% (equivalent to 174.9 million shares) to 1.1% of the charter capital (equivalent to 84.9 million shares).
According to Vinpearl, this ownership transfer is intended to satisfy the exercise of options by holders of international bonds issued by the company in 2024.
