20/11/2015 09:36 GMT+7 Email Print Like 0

Vietnam Airports Corporation to launch IPO in December

Hanoi, November 20 (VNA) – The first initial public offering (IPO) of the Airports Corporation of Vietnam will be conducted at the Ho Chi Minh Stock Exchange on December 10, 2015.

The IPO sets to bid over 77.8 million stocks equivalent to 3.47 percent of the corporation’s chartered capital, with the starting price of 11,800 VND (0.52 USD) each, heard a workshop in Hanoi on November 19.

More than 300 organisations and individuals took part in the event to study investment opportunities in the ACV.

Deputy Minister of Transport Nguyen Nhat said the ACV has injected money to upgrade the airport system, including the expansion of the Noi Bai, Da Nang, and Tan Son Nhat international airports.

The Party, State and Government have entrusted the ACV to start the construction of the Long Thanh international airport in 2018, he said.

He highlighted the rapid development of the aviation sector as a brilliant opportunity for businesses to invest in the ACV shares, which will help the corporation to increase its investment capital for the implementation of aviation infrastructure projects in Vietnam.

The Ministry of Transport pledged to work alongside the ACV in the field and support its sustainable development efforts.

Domestic and foreign investors are expected to continue support for the ministry in the equitisation of State-run businesses.

The ACV is managing and operating 22 civil airports spanning across the country, which are capable of serving 69.4 million passengers.

Currently, the ACV has chartered capital of over 22.4 trillion VND (985.6 million USD). It will sell to the market over 2.2 billion stocks at 10,000 VND (0.44 USD) each.

The State will hold 75 percent of the group’s chartered capital, while 20 percent of the remaining stake will be sold to strategic investors, 3.47 percent at a public auction, and 1.12 percent to employees at a preference price./