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Vietnam Airlines, Vinatex to go public in January
The securities market will see two of the largest State-owned enterprises stepping into the Unlisted Public Company Market (UPCoM) on January 3, 2017, according to the Ha Noi Stock Exchange.
Vietnam Airlines, the country’s biggest aviation corporation, will trade 1.22 billion shares with the code HVN at a starting price of VND28,000 (US$1.24) per share, putting the company’s market capitalisation at $1.5 billion.
The debut price of Vietnam Airlines’ shares on UPCoM is higher than that of VND22,307 per share when Vietnam Airlines was equitised in 2014.
On November 31, the State held 86.16 per cent of the aviation firm’s capital, equal to more than one billion shares. The Japanese aviation corporation ANA Holdings Inc is now the strategic investor, owning more than 107.6 million shares, equal to 8.77 per cent of Vietnam Airlines’ capital.
The Viet Nam National Textile and Garment Group (Vinatex) will start trading 500 million of its shares on UPCoM the same day alongside Vietnam Airlines.
Vinatex will go public with code VGT at a starting price of VND13,500 per share. The company’s market capitalisation will be VND6.75 trillion.
Vinatex also conducted its initial public offering (IPO) in 2014 with the average buying price of VND11,000 per share.
The State is now holding 54 per cent of Vinatex, while property and retail corporation Vingroup and the Viet Nam Investment Development Group own 24 per cent of the textile group.
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