Vietnam Airlines, Vinatex to go public in January
The securities market will see two of the largest State-owned enterprises stepping into the Unlisted Public Company Market (UPCoM) on January 3, 2017, according to the Hanoi Stock Exchange.
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Vietnam Airlines, the country’s biggest aviation corporation, will trade 1.22 billion shares with the code HVN at a starting price of VND28,000 (US$1.24) per share, putting the company’s market capitalisation at US$1.5 billion.
On November 31, the State held 86.16% of the aviation firm’s capital, equal to more than one billion shares. The Japanese aviation corporation ANA Holdings Inc is now the strategic investor, owning more than 107.6 million shares, equal to 8.77% of Vietnam Airlines’ capital.
The Vietnam National Textile and Garment Group (Vinatex) will start trading 500 million of its shares on UPCoM the same day alongside Vietnam Airlines.
Vinatex will go public with code VGT at a starting price of VND13,500 per share. The company’s market capitalisation will be VND6.75 trillion.
Vinatex also conducted its initial public offering (IPO) in 2014 with the average buying price of VND11,000 per share.
The State is now holding 54% of Vinatex, while property and retail corporation Vingroup and the Vietnam Investment Development Group own 24% of the textile group.
