Vietnam Airlines to sell stakes in next three years

Vietnam Airlines plans to reduce state ownership to 51% of its charter capital in the next three years. Vietnam Airlines will increase its charter capital to 14t Vietnamese dong (US$619m) by issuing additional shares, and sell stakes to outsiders in 2018, when state ownership will decrease by 4.1% to 82.1% of the capital, Vietnam News Agency reported Tuesday. Vietnam Airlines will continue to sell stakes after 2018, so that the ratio of state capital in the carrier will eventually drop to 51%. According to Vietnam Airlines General Director Duong Tri Thanh, after the charter capital hike is completed in the first phase, the firm will move its listing from the Hanoi Stock Exchange to Ho Chi Minh City Stock Exchange in the second quarter of 2018.<br/>