National flag carrier Vietnam Airlines will officially list more than 1.4 billion shares (coded HVN) on the Ho Chi Minh Stock Exchange (HoSE) on May 7, according to the company.
|More than 1.4 billion shares of Vietnam Airlines will be listed on the Ho Chi Minh Stock Exchange on May 7 (Photo: VNA)|
The carrier said the listing of HVN on the HoSE will be a landmark in its development, showing the firm’s determination to continually improve its business performance and transparency, open up chances to access financial investors, promote the stock’s liquidity and maximise shareholders’ investment value.
The firm noted that its shares will be listed at the starting price of 40,600 VND (1.76 USD) each with a fluctuation band of +/- 20 percent.
Earlier, HVN was traded on the Unlisted Public Company Market (UPCoM).
In its last trading session on the UPCoM on April 22, the stock’s price stood at 40,300 VND per share, rising 1.5-fold from the 28,000 VND on its first trading day (January 3, 2017).
Thanks to the increased number and value of listed shares, the market capitalisation of Vietnam Airlines has surpassed 57 trillion VND.
In 2018, Vietnam Airlines posted almost 100 trillion VND in total revenue and over 3.31 trillion VND in pre-tax profit, up 23.4 percent from its target.
In the first quarter of 2019, the respective figures were nearly 26 trillion VND and over 1.5 trillion VND, equivalent to 45 percent of this year’s target.
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