Vietnam Airlines gets green light to list shares on HoSE
With a par value of VND10,000 (US$0.43), the total value of the share amount in subject is VND14.18 trillion (US$611.64 million).
National carrier Vietnam Airlines has been given approval to list its entire 1.41 billion shares on the Ho Chi Minh City Stock Exchange (HoSE), announced the latter in a statement.
Illustrative photo.
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Vietnam Airlines started listing shares on the Unlisted Pubic Company Market (UPCoM) in early 2017, after completing the initial public offering (IPO) and privatization process in 2014.
In 2019, Vietnam Airlines plans to divest state capital to 51% as instructed by the government.
As of present, the largest shareholder of Vietnam Airlines is the government-run Commission for the Management of State Capital (CMSC), holding 86.16% stake, followed by Japan’s biggest airline ANA Holdings with 8.8%, and Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) 1.04%.
At the close on April 12, Vietnam Airlines’ share was priced at VND40,900 (US$1.76) apiece, equivalent to nearly VND58 trillion (US$2.5 billion) in market capitalization.
In 2018, Vietnam Airlines posted revenue of VND102 trillion (US$4.4 billion), up 4% compared to the year’s target, while after-tax profit reached VND2.8 trillion (US$120.78 million), up 16% of the year’s target.
The carrier targets consolidated revenue of VND112 trillion (Ú$4.83 billion) in 2019, up 13.2% year-on-year.
In addition to Vietnam Airlines, Vietnam currently has a total of five airlines, including budget operator Jetstar Pacific Airlines (partly owned by Vietnam Airlines), budget carrier Vietjet Aviation, Vietnam Air Services (VASCO) and Bamboo Airways.
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Vietnam news in brief - August 24
Read The Hanoi Times to stay up to date on developments in Vietnam.
- Growing number of FDI firms moving to Vietnam
- Vietnam Gov’t committed to facilitating Adani Group’s US$2-billion port project
- Vietnam Railway proposes US$87 million for Hanoi–Dong Dang railway upgrade
- Vietnam’s North-South high-speed railway to be designed for 350km/h
- Vietnamese gov’t urged to address impact of global minimum tax
- Samsung plans drastic investment increase in Vietnam over next three years