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  • Vietnam Airlines stock to debut on Ho Chi Minh City bourse

Vietnam Airlines stock to debut on Ho Chi Minh City bourse

Vietnam Airlines shares will commence trading on the Ho Chi Minh City stock exchange from Tuesday 7 May.

The airline will list 1.4 billion shares on the exchange at VND40,600 ($1.74) per share, says the company in a statement.

The Ho Chi Minh City listing follows the 23 April cessation of trading in Vietnam Airlines shares on Hanoi’s Unlisted Public Company market, where they have been listed since 3 January 2017.

The company notes that since the Hanoi listing, company shares have appreciated 50%, giving it a market capitalisation of about $2.5 billion.

Vietnam Airlines recently announced that consolidated revenue for the first quarter of 2019 was VND26 trillion, up from VND25.5 trillion a year earlier. In addition, it recorded a consolidated profit before tax VND1.5 trillion, which amounts to 45% of its annual target.

In July 2018, the Vietnamese government obtained 165 million shares from the carrier’s 191 million share issue, so as to retain its 86.2% stake. An additional 8.77% is held by All Nippon Airways. The balance is held by Vietnamese banks and small investors.

Hanoi has said that it hopes to reduce its stake in the carrier to 51% by 2020.

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