Vietnam Airlines gets permission for listing on HoSE

Economy, Vietnam, Vietnam Finance News

VNA
Wednesday, April 17, 2019 – 16:03:00 Print

Vietnam Airlines receives approval to list its 1.4 billion shares on the Ho Chi Minh Stock Exchange (HoSE). (Photo: VNA)

HCM City (VNA) – The
national carrier Vietnam Airlines (UPCoM: HVN) has gained approval of the Ho Chi
Minh Stock Exchange (HoSE) to list its 1.4 billion shares on the southern
bourse.

The company will move to HoSE
from the Unlisted Public Company Market (UPCoM) and the stock ticket will
remain as HVN.

The company’s market value on
HoSE is approved at 14 trillion VND (603.5 million USD).

Vietnam Airlines planned to
switch to HoSE from UPCoM in 2018, but the decline of the stock market in the
second half of 2018 made the firm delay its plan until now.

The national carrier sold 49
million shares, equal to 3.48 percent of the total, for 1.09 trillion VND at
the initial public offering (IPO) in November 2014.

In 2016, the Japanese aviation
firm ANA Holdings bought 8.8 percent of Vietnam Airlines’ capital for 108
million USD.

In 2018, Vietnam Airlines posted
a record-high revenue of 96.8 trillion VND (4.17 billion USD), up 17 percent
year on year.

Its pre-tax profit for 2018 rose
34 percent year on year to 3.24 trillion VND (139.7 million USD).

Vietnam Airlines shares on UPCoM
have increased by nearly a quarter since the end of last year, ending at 41,200
VND per share on April 16.

The private-equity new-age
carrier Vietjet is now the only aviation firm that lists shares on the stock
market with the market value of 3 billion USD.-VNA

QBCA

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