The company’s trading code is VTR and debuting price is VND 40,000 (USD 1.72) per share, valuing the firm at VND 504 billion, according to the Hanoi Stock Exchange.

With a trading band of 40 percent on either side on debut day, Vietravel shares may swing between VND 24,000-56,000 per share.

The company had been the Tracodi Tour Center under the Transport and Industry Development Investment Corporation (Tracodi).

Photo for illustration

It was renamed Vietravel in 1995 and equitized in 2014. The two largest shareholders now are chairman Nguyen Quoc Ky and Saigon Travel, holding 9.07 percent and 16.22 percent of the business.

Vietravel has no foreign shareholders. It has stakes in 10 subsidiaries and one associate business.

The company is planning to set up its aviation arm Vietravel Airlines, which will be headquartered in the central province of Thua Thien - Hue with charter capital of VND 700 billion.

This will be the sixth airline in Vietnam after the likes of Vietnam Airlines, Vietjet, Vasco, Bamboo Airways and Jetstar Pacific.

In February, the firm received a license from the provincial Department of Planning and Investment.

The plan is being review by the Civil Aviation Authority of Vietnam (CAAV) and it will be submitted to the Prime Minister for approval.

In the first half of this year, Vietravel’s net revenue is estimated at nearly 3.98 trillion VND, a year-on-year increase of 6 percent.

The company’s pre-tax profit reached around VND 30 billion, up 26 percent compared to the same period last year and achieving 44 percent of the year’s plan.

In 2019, the firm targets revenue of more than VND 8.61 trillion and after-tax profit of VND 60.8 billion.

Source: VNA