Vietjet to be listed on HCMC Stock Exchange in late February

Friday, 2017-02-10 04:48:45
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NDO - Low-cost airline Vietjet Air will begin listing its shares on the Ho Chi Minh City Stock Exchange on February 28.

The company said its registration has been filed and approved and it plans to list 300 million shares worth a total of VND3 trillion (US$132 million).

It added that the reference price would be VND90,000 per share on the first day of trading, equivalent to a capitalisation of VND27 trillion (about US$1.2 billion).

The airline had earlier completed its floatation by selling 44.8 million shares, which its CEO Nguyen Phuong Thao said were welcomed by the world’s largest markets such as Hong Kong, London, Singapore and the US.

Currently Vietjet has charter capital of VND3 trillion with 664 million shareholders as of January 12. The three largest shareholders with over 5% of stakes are Huong Duong Sunny Investment, CEO Thao and the Singaporean investment firm GIC.

Since its establishment five years ago, Vietjet has now become the second largest airline in Vietnam after the national flag carrier Vietnam Airlines.

In 2016 the company reported revenues of over 27.2 trillion (about US$1.2 billion), up 38.7% from the previous year and after-tax profits of VND2.3 trillion (US$101.2 million), up 95.8%.

Vietjet has set a target to reach earnings of approximately VND3.4 trillion (US$149.6 million) in 2017.