Vietnam Airlines will trade on the Unlisted Public Company (UPCoM) market from December under the code HVN, with over 1.22 billion shares and a registered stock value of more than VND12.2 trillion ($549 million).
Vietnam Airlines must close the list of shareholders in order to trade on UPCoM, according to Vietnam Security Depository. The total value of VND12.2 trillion ($549 million) is equal to its registered capital and the 1.22 billion shares have a starting price of VND10,000 ($0.45) per share.
After its IPO on November 12 last year, the State holding in Vietnam Airlines was 95 per cent. In May this year it sold 107,668,938 shares worth 13 billion Japanese yen ($117.2 million), equal to 8.77 per cent of its charter capital, to ANA Holdings for VND21,000 ($0.9) per share.
Two enterprises of the Ministry of Transport - Vietnam Airlines and Airports Corporation of Vietnam (ACV) - will soon have the highest charter capital on UPCoM. ACV will officially trade on UPCoM from November 21.
ACV was given permission on November 3 to trade on UPCoM under the code ACV, with a total of 2.18 billion shares and a registered stock value of more than VND21.7 trillion ($976.5 million).
Vietnam Airlines earned VND43.3 trillion ($1.9 billion) in revenue in the first nine months of this year, with pre-tax profit of VND1.7 trillion ($76.3 million), a four-fold increase year-on-year and 10.6 per cent higher than the 2016 plan. It also contributed VND3.9 trillion ($174 million) to the State budget, up 24 per cent year-on-year.
The national flag carrier conducted over 106,000 domestic and international flights during the nine months, or 10.5 per cent more than in the same period last year. It carried 14.9 million passengers, up 16.4 per cent year-on-year, with domestic passengers up 13 per cent. Cargo transported totaled 193,000 tons, up 21 per cent.
Consolidated revenue stood at VND52.5 trillion ($2.3 billion), an increase of 6 per cent year-on-year, while consolidated pre-tax profit reached VND2.6 trillion ($116.5 million). “Vietnam Airlines made great efforts to reach these achievements,” Mr. Le Hoang Dung, Vietnam Airlines' spokeperson told VET.
Though growth in Vietnam’s aviation market is strong, at 24.4 per cent against the same period last year, Vietnam Airlines faced difficulties from terrorism in the EU and inadequate aviation infrastructure at home. Hackers attacked the national carrier’s website on July 29, posing a major challenge for its operations.
Vietnam Airlines took possession of four Airbus A350s and eight Boeing 787s in the first year the new aircraft were launched. Its will receive 14 Airbus A350s and 19 Boeing 787s from mid-2015 to early 2019, with all pilots, technicians and trainers to be Vietnamese.
VN Economic Times
