Taseco Airs files for HOSE listing
Thang Long Air Services Corporation (Taseco Airs) has filed for listing on the HCM Stock Exchange, the country’s major stock market.
![](http://static1.vietstock.vn/indochinastock/images/2017/11/08/Taseco-Airs-files.jpg)
The listing portfolio is in consideration of the southern market exchange.
Taseco Airs became a public company in September 2017 with VND360 billion (US$16 million) in the charter capital.
The company was established in September 2015, operating in the air service business with a focus on restaurants, cafeterias, souvenir stores, advertisements, foreign currency exchange and the supply of on-board meals at international airports across Viet Nam.
Taseco Airs recorded VND480 billion in revenue in the first nine months of 2017, a yearly increase of 139 per cent. Its nine-month post-tax profit rose four-fold from the previous year, to VND135 billion.
On October 24, the Danish private equity company, PENM Partners’ investment fund Private Equity New Markets IV K/S (PENM IV), purchased 3.6 million shares or 10 per cent of Taseco Airs to become the major shareholder.
PENM IV is a fund established in June 2015 with a first closing of approximately $120 million, and a final closing expected in 2016 with a target of $150-175 million.
Besides PENM IV, the Denmark-based private equity firm PENM Partners is running three other funds with a total $400 million under its management.
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