CIAS to launch IPO on July 12

Cam Ranh International Airport Service Joint Stock Company (CIAS) will offer over 1.4 million shares as part of the company’s initial public offering (IPO) on July 12.

The shares will be auctioned on the Ha Noi Stock Exchange (HNX) at the starting price of VND30,000 (US$1.3) each.

Formerly known as Cam Ranh Aviation Trading Joint Stock Company, CIAS was established in 2009 with chartered capital of VND10 billion. In 2016, CIAS increased its chartered capital to VND60 billion.

The company provides services for travelers at the Cam Ranh International Airport in the central coastal province of Khanh Hoa, such as restaurants, catering services, business class lounges and souvenir shops.

This year, CIAS has set a target of VND371.3 billion in revenue, VND35.5 billion in post-tax profit and 35 per cent dividend payment. In the first quarter of 2017, CIAS earned VND101.9 billion in revenue and VND12 billion in post-tax profit.

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