Lender NCB wants to sell 11% stake in Bamboo Airways pledged as collateral
🎯 The National Citizen Bank (NCB) plans to seek shareholders’ permission this month to sell 203 million shares, equivalent to a 11% stake, of Bamboo Airways.
📃 Some of the shares were pledged by property developer FLC as collateral for loans.
🚨 FLC and its disgraced former chairman, Trinh Van Quyet, who is in custody for alleged stock market manipulation, had also used Bamboo Airways shares for borrowing from OCB and Sacombank.
🙏🏼 The carrier last month sought shareholders’ approval to increase its capital by VND9.57 trillion ($408.15 million) to deal with debts, but failed to get it.