January 01, 2017 | 20:28 (GMT+7)
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.
Vietnam Airlines is Vietnam’s biggest aviation corporation. Photo: flynow.vn
Vietnam Airlines, the country’s biggest aviation corporation, will trade 1.22 billion shares with the code HVN at a starting price of 28,000 VND (1.24 USD) per share, putting the company’s market capitalization at 1.5 billion USD.
On November 31, the State held 86.16 percent 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 percent 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 13,500 VND per share. The company’s market capitalization will be 6.75 trillion VND.
Vinatex also conducted its initial public offering (IPO) in 2014 with the average buying price of 11,000 VND per share.
The State is now holding 54 percent of Vinatex, while property and retail corporation Vingroup and the Vietnam Investment Development Group own 24 percent of the textile group.
Source: VNA