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Thursday, July 25, 2024

VTR shares under restriction order

By Minh Duy

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HCMC – The Hanoi Stock Exchange (HNX) announced on September 13 that Vietravel’s shares, coded VTR, will be traded only on Friday on the Unlisted Public Company Market (UPCoM).

The HNX sent the order following a negative VND104 billion-plus in the equity of Vietravel, according to the semi-annual review report for the year 2022.

Accordingly, 17,294,833 shares, now sold at VND10,000 each, will be curtailed drastically on UpCoM, estimated at VND172,984,330,000.

The exchange of regular shares resumed normalcy after Vietravel managed to tackle the issue.

Like many other businesses in the travel and aviation sector, Vietravel took a heavy hit from the Covid-19 pandemic and has just revived since the end of Covid lockdowns and restrictions late last year.

In a general financial report in quarter two of 2022, the revenue of Vietravel is some VND1,000 billion, earning VND48.9 billion after tax, an increase over the pre-pandemic period.

However, the subsidiaries of the company saw losses of VND6.9 billion, mainly from the aviation sector.

On September 8, Vietravel Airlines and Asean Cargo Gateway signed an investment cooperation contract to launch a cargo air transportation service, named VUAir Cargo.

Vietravel will hold a 51% stake and Asean Cargo Gateway will fund the balance.

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