VietJet in talks on overseas listing
HANOI: VietJet Aviation Joint Stock Co is in talks to become the first company in Vietnam to list its shares on a stock exchange overseas as the carrier, which controls more than 40 per cent of the domestic airline market, seeks more funds after plans for billions of dollars in aircraft purchases.
“We’ve been approached by some foreign stock exchanges, including London, Hong Kong and Singapore, which expressed their interest in our stock,” said VietJet founder and chief executive officer Nguyen Thi Phuong Thao on Sunday.
Thao said she would meet exchange officials in New York later this week.
The plan for the 41 trilliondong (RM7.69 billion) low-cost carrier comes amid the government’s easing of rules to allow more foreign investment in one of the fastest-growing aviation markets.
VietJet, known for a marketing stunt featuring bikini-clad service crew, received shareholder approval last month to boost its foreign ownership limit to 49 per cent from 30 per cent.
“Listing overseas on big markets will help increase our access to more fund sources, boost the trading of our stock and expand the list of our investors,” said Thao, a self-made billionaire.
“We don’t want to hide our hope to become the first Vietnamese company to list shares overseas.”
Shares of VietJet rose 0.5 per cent to 127,400 dong as of 1.03pm in Ho Chi Minh City. The stock has surged about 51 per cent since it started trading three months ago, compared with a 6.6 per cent gain in the Bloomberg Asia Pacific Airlines Index.
The overseas listing plan would make VietJet the first Vietnamese company to officially trade overseas, according to Tran Anh Dao, deputy chief executive of the Ho Chi Minh City Stock Exchange. Bloomberg
Nguyen Thi Phuong Thao