Vietnam Travel and Marketing Transport JSC (Vietravel) will trade 12.6 million shares on the Unlisted Public Company Market (UPCoM) on September 27. (Photo: VNA) Hanoi (VNS/VNA) — The Vietnam Travel and Marketing Transport JSC (Vietravel) will trade 12.6 million shares on the Unlisted Public Company Market (UPCoM) on September 27, insiders have said.
The company’s trading code is VTR and debuting price is 40,000 VND (1.72 USD) per share, valuing the firm at 504 billion VND, according to the Hanoi Stock Exchange.
With a trading band of 40 per cent on either side on debut day, Vietravel shares may swing between 24,000-56,000 VND per share.
The company had been the Tracodi Tour Centre under the Transport and Industry Development Investment Corporation (Tracodi).
It was renamed Vietravel in 1995 and equitised in 2014. The two largest shareholders now are chairman Nguyen Quoc Ky and Saigon Travel, holding 9.07 percent and 16.22 percent of the business.
Vietravel has no foreign shareholders. It has stakes in 10 subsidiaries and one associate business.
The company is planning to set up its aviation arm Vietravel Airlines, which will be headquartered in the central province of Thua Thien-Hue with charter capital of 700 billion VND.
This will be the sixth airline in Vietnam after the likes of Vietnam Airlines, Vietjet, Vasco, Bamboo Airways and Jetstar Pacific.
In February, the firm received a licence from the provincial Department of Planning and Investment.
The plan is being review by the Civil Aviation Authority of Vietnam (CAAV) and it will be submitted to the Prime Minister for approval.
In the first half of this year, Vietravel’s net revenue is estimated at nearly 3.98 trillion VND, a year-on-year increase of 6 percent.
The company’s pre-tax profit reached around 30 billion VND, up 26 per cent compared to the same period last year and achieving 44 percent of the year’s plan.
In 2019, the firm targets revenue of more than 8.61 trillion VND and after-tax profit of 60.8 billion VND./.
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