Vietnam Airlines to open stock transaction on UPCoM
Vietnam Airlines ran the first share trading session at the Hanoi Stock Exchange on the 3rd of January 2016. More than 1,227 million shares of Vietnam Airlines (HVN) were officially listed and traded at the Unlisted Public Company Market (UPCoM) with the starting price in the first trading day of 28,000 VND ($1.24) per share, accounting for about 11% of UPCoM’s total market capitalization.
This is an event of great significance to the development of Vietnam Airlines, fulfilling the aspirations of shareholders as they could see HVN shares are listed and traded on Vietnam’s stock market. Given a direct injection into Vietnam’s stock market of more than 1.2 billion shares, HVN has become the second largest contributor to UPCoM in terms of the number of share and the amount of value.
Pham Ngoc Minh, Vietnam Airlines’ Chairman, said: "Being the first and only airline to be listed on Vietnam’s stock market, Vietnam Airlines takes great pride in bringing to the stock market a business capable of maintaining a constant growth over the past 20 years evidenced by excellent financial indicators which all far exceed the target.”
Pham added: “Especially, Vietnam Airlines is also among the first three equitized state owned enterprises who has found a foreign strategic investor, the Group retaining ownership of Japan’s ANA 5-star airline. The two sides have made commitment to further promoting joint development and cooperation in order to operate flight network and improve corporate governance. The Airline is expected to achieve great breakthroughs in its long-term development.”
Shortly after completing the process of equitization and selection of strategic investor in 2016, Vietnam Airlines has worked hard to finalize registration procedures to officially open trading session of HVN at the beginning of year 2017.
The company said that the share trading registration will help the Corporation further enhance Vietnam Airlines standing and brand in the market, improve transparency and liquidity of HVN shares, as well as open a new channel for raising capital used for investment.
It is also considered to provide a solid premise for Vietnam Airlines to further speed up its restructuring process by issuing shares to raise capital in an effort to make the corporation become a leading and efficient business in Vietnam as well as in the world.
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