Bamboo Airways’ shareholders reject plans of raising capital via share issuance

Bamboo Airways’ plans of raising $410 million via private placement of shares have been rejected by 56.4% of the shareholders during the general meeting held on April 10, 2023, local media reports. There was a total of 93 shareholders in the meeting holding about 93% of the voting shares. The airline CEO, Nguyễn Ngọc Trọng wanted to issue 996.2 million shares and raise the charter capital to $1.2 billion. The capital raised would be used to restructure the debts and strengthen the airline’s balance sheets. Nguyễn Khắc Hải, deputy general director of Bamboo Airways, had urged shareholders at the meeting