70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Banking & Finance
Vietnam’s Bamboo Airways to list on the bourse in Q3
Phi Khanh 09:32, 2021/03/20
The Vietnamese air carrier is optimistic about its capitalization prospects.

Vietnam’s airline Bamboo Airways plans to list shares on the stock market in the third quarter this year and expects a market capitalization of US$2.7 billion.

  Bamboo Airways plans to list shares on the stock market in Q3, 2021. Photo: Bamboo Airways

The airline, established in 2019, will list 105 million shares on either the Hanoi or Ho Chi Minh City Stock Exchanges with an initial price of around VND60,000 (US$2.6) apiece, Bamboo Airways Chairman Trinh Van Quyet told Bloomberg.

This is the second attempt of the Vietnamese air carrier to list its shares on the market. Its last year attempt was postponed due to the Covid-19 pandemic. 

The benchmark VNIndex of Vietnamese stocks has increased 8.8% this year to a near three-year high. Meanwhile, the pandemic is under the control in Vietnam. “The market conditions are very favorable,” Bamboo Airways leader said. 

Quyet predicted that the Vietnamese government will begin lifting bans on international commercial flights this summer and the company will begin flying to the US in the last quarter of 2021. 

However, Nguyen Anh Duc from SSI Security Corporation said: “It would be "tricky" given the reluctance of some investors to bet on short-term growth for airlines.”

Quyet expected a big "boom" in the aviation industry given the rapid international vaccine rollout. "We are planning to increase Bamboo’s fleet from 22 to 40 planes in 2021."

In 2020, the airline reported a 34% year-on-year increase in pre-tax profits to VND400 billion (US$17.2 million). It was among the few airlines which made a profit during the pandemic year.

The Vietnamese property developer FLC currently owns 39.4% stake of Bamboo Airways from 51.29%, after Bamboo Airways increased its charter capital to VND10.5 trillion (US$452.4 million) in February.

RELATED NEWS
TAG: Bamboo Airways listing
Other news
14:12, 2024/03/23
Finance ministry clears bottlenecks to pave way for stock market upgrade
One of the key measures is to allow securities companies with sufficient capacity to provide services without requiring foreign investors to have 100% of the funds before placing purchase orders for securities.
22:20, 2024/03/20
Over 60% of Vietnamese use QR codes to pay
Vietnam also leads Southeast Asia in terms of new e-wallet users.
20:39, 2024/03/18
Casinos contribute US$370 million to state budget over 5 years
The number of Vietnamese gamblers is falling.
08:22, 2024/03/13
Standard Chartered and IATA partner to launch IATA Pay in Vietnam
IATA Pay in Vietnam is powered by Standard Chartered’s Straight2Bank Pay.
17:50, 2024/03/07
Vietnam’s capital market shows positive signs: Finance Ministry
The government is planning to set up a capital trading platform for innovative start-ups.
14:29, 2024/03/06
Prime Minister urges banks to cut lending rates further
The Government leader has called for the publication of average lending rates to allow individuals and businesses to choose their banks.