Vietjet to list 300 million shares on HOSE

According to the carrier’s representative, the firm’s listing registration was approved on February 6, and it plans to list its 300 million shares worth 3 trillion VND on the HOSE. 

Previously, Vietjet Air completed an auction of 44.8 million shares at its initial public offering (IPO). 

Vietjet Air CEO Nguyen Thi Phuong Thao said the firm’s shares have been welcomed in a number of largest markets like Hong Kong (China), London (the UK), Singapore and the US, with the involvement of international financial institutions. 

As of January 12, Vietjet had a total charter capital of 3 trillion VND (132.4 million USD), with 664 shareholders, including three main shareholders owning over 5 percent of the charter capital: the Huong Duong Sunny Investment Ltd (23.24 percent), CEO Nguyen Thi Phuong Thao (9.42 percent) and the GIC Investment Fund of the Singaporean Government (5.48 percent). 

After the five years of operation, Vietjet is the airline having the second largest domestic market share in Vietnam after the national flag carrier Vietnam Airlines. In 2016, it reported a record growth of over 27.2 trillion VND in net revenue and 2.29 trillion VND in post-tax profit, up 38.7 percent and 95.8 percent year-on-year, respectively. 

The airline sets to achieve respective revenue and profit expansions of 49 percent and 64 percent in 2017. Its dividend in the 2017-2019 period is hoped to be maintained at 50 percent, with at least 30 percent of this being cash.