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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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