Following its AGM, shareholders of VietJetAir (VJ, Hanoi Noi Bai International) have agreed to sell 7.46% (22.4 million shares) of the company to Sunflower Sunny Investments, which is owned by VietJetAir CEO Nguyen Thi Phuong Thao, reports news site Bao Moi.

At VND84,600 (USD3.75) per share, the sale increased the low cost carrier's capital by VND1,900 billion (USD83.9 million). Shareholders further agreed that 76% of the amount raised (USD63.7 million) will be used towards leasing aircraft.

The sale comes ahead of VietJetAir's debut on the Ho Chi Minh Stock Exchange due for 23 February, 2017.