VietJet plans IPO in Vietnam first, then abroad

Passengers on a flight by Vietjet Air (Source: vietjetair.com)

Hanoi (VNA) - The VietJet Aviation Joint Stock Company plans an initial public offering (IPO) in Vietnam before going overseas, the airline firm’s spokesperson told Viet Nam News on September 16.

“The company will first hold an IPO and list in Vietnam, probably within this year. After listing on the domestic market, we may consider listing on international markets, subject to market conditions and trends,” she said.

“The fact that we list in Vietnam’s stock market first satisfies the country’s securities laws and regulations.”

“The company currently completes IPO documents as per international standards and is the first Vietnamese company to have completed doing so,” the spokesperson said.

“These documents will therefore be available and accessible to potential investors.”

The privately owned budget carrier known as VietJet, or VietJet Air, previously expected to be listed on the Hong Kong or Singapore stock exchanges as early as the second quarter of this year.

VietJet was founded in 2011. It carried 9.3 million passengers last year and plans to increase the number of passengers to 15 million this year.

This year the local aviation firm inked two deals with France-based Airbus and US-based Boeing to buy 120 airplanes to replace its current fleet.

VietJet has also opened direct routes to several overseas markets, including Hong Kong. It was listed among the Forbes Vietnam’s 40 most valuable domestic brands in June. Dairy firm Vinamilk, the military telecom group Viettel, and the real estate corporation Vingroup were also listed.-VNA