Ho Chi Minh City Stock Exchange to host IPO of Airports Corporation of Vietnam on December 12.
Airports Corporation of Vietnam (ACV) will conduct an IPO of some 77.8 million shares on December 12 at the Ho Chi Minh City Stock Exchange.
The IPO has attracted a great deal of attention from investors as ACV has among the largest market capitalization in the aviation sector, with charter capital of around VND22.43 trillion ($998.13 million).
After equitization the State will retain 75 per cent of capital, with 20 per cent, or 448.6 million shares, being offered via auction to strategic shareholders, 3.47 per cent, or 77.8 million shares, being sold in a public offering, and the remainder being sold to employees and the union.
The price at the public offering will be VND11,800 ($0.53) per share; considered by stock experts as attractive because the corporation possesses the most infrastructure in Vietnam’s aviation industry.
ACV manages 22 airports throughout Vietnam, of which seven are international and 15 domestic, with 21 being directly managed by the corporation, and has a range of joint ventures with other companies.
Since establishment it has always performed solidly. In the 2012-2014 period it served 132.6 million passengers with a growth rate of 16 per cent per year, and handled over 2.28 billion tons of cargo, for growth of 15.29 per cent per year.
Total revenue in the period reached VND28.11 trillion ($1.25 billion), growing 14.86 each year, while profit after tax grew 29.75 per cent each year to total VND6.34 trillion ($282.13 million).
In the first three quarters of this year it served 46.5 million passengers, an increase of 22.3 per cent year-on-year, and handled 716,000 tons of cargo, an increase of 16.1 per cent year-on-year.