Vietjet Makes Debut On Ho Chi Minh City Stock Exchange

KUALA LUMPUR, March 1 (Bernama) -- Vietjet becomes the first airline in Vietnam to be listed on the Ho Chi Minh City Stock Exchange (HOSE) with a capitalisation equivalent to US$1.2 billion. In a statement, Vietjet said the airline, which made its debut on the bourse on Tuesday, joined the ranks of 'VN 30', Vietnam's biggest publicly-traded companies in terms of market capitalisation. "It accounts for 1.5 per cent of HOSE capitalisation as at Feb 15, 2017," Vietjet said. BNP Paribas, Deutsche Bank and JP Morgan were the Initial Public Offering's (IPO) foreign joint global consultants. Twenty-four international investors subscribed to Vietjet's offering, including Singapore sovereign fund GIC, Wellington, Morgan Stanley, Dragon Capital, VinaCapital, and many more. Vietjet, the first privately-owned commercial airline in Vietnam, started to generate profits in its second year of operations. Vietjet's revenue in 2016 was US$1.21 billion with a net profit of US$105 million. "Vietjet shall maintain a continuous and high-growth rate and we believe that there will be a brighter future in the air for our passengers, the airline and its investors," it said. Vietjet is leading the way in becoming an airline with high-quality services and efficient management, as well as a listed company that meets best standards and practices in Vietnam and internationally," said Vietjet's President and Chief Executive Officer Nguyen Thi Phuong Thao. Currently, the airline boasts a fleet of 45 aircraft, including A320s and A321s, and operates over 300 flights per day. It currently operates 63 routes in Vietnam and across the region to international destinations such as Hong Kong, Thailand, Singapore, South Korea, Taiwan, Malaysia, Cambodia, China, and Myanmar. --BERNAMA