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Banking & Finance

Vietnam Airlines, Vinatex go public

Released at: 15:14, 03/01/2017

Vietnam Airlines, Vinatex go public

Illustrative image (Source: VNA)

Vietnam Airlines and Vietnam National Textile and Garment Group move into UPCoM market on January 3.

by QuocUy / 3

Vietnam’s stock market will see two of the largest State-owned enterprises move into the Unlisted Public Company Market (UPCoM) on January 3.

According to the Hanoi Stock Exchange, Vietnam Airlines will trade 1.22 billion shares under the code HVN at a starting price of VND28,000 ($1.24) per share, while the Vietnam National Textile and Garment Group (Vinatex) will start trading 500 million of its shares under the code VGT at a starting price of VND13,500 ($0.59) per share, which therefore puts their market capitalization at $1.5 billion and $296 million, respectively.

On November 31 the State held 86.16 per cent of Vietnam Airlines, equal to more than 1 billion shares. The Japanese aviation corporation ANA Holdings Inc. is now its strategic investor, with more than 107.6 million shares, equal to an 8.77 per cent holding.

The State now holds 54 per cent of Vinatex while property and retail corporation Vingroup and the Vietnam Investment Development Group hold 24 per cent.

Vinatex also conducted its initial public offering (IPO) in 2014, with an average purchase price of VND11,000 per share.

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