Vietnam Airlines receives approval to list its 1.4 billion shares on the Ho Chi Minh Stock Exchange (HoSE). (Photo: VNA)

HCM City (VNA) - The national carrier Vietnam Airlines (UPCoM: HVN) has gained approval of the Ho Chi Minh Stock Exchange (HoSE) to list its 1.4 billion shares on the southern bourse.

The company will move to HoSE from the Unlisted Public Company Market (UPCoM) and the stock ticket will remain as HVN.

The company’s market value on HoSE is approved at 14 trillion VND (603.5 million USD).

Vietnam Airlines planned to switch to HoSE from UPCoM in 2018, but the decline of the stock market in the second half of 2018 made the firm delay its plan until now.

The national carrier sold 49 million shares, equal to 3.48 percent of the total, for 1.09 trillion VND at the initial public offering (IPO) in November 2014.

In 2016, the Japanese aviation firm ANA Holdings bought 8.8 percent of Vietnam Airlines’ capital for 108 million USD.

In 2018, Vietnam Airlines posted a record-high revenue of 96.8 trillion VND (4.17 billion USD), up 17 percent year on year.

Its pre-tax profit for 2018 rose 34 percent year on year to 3.24 trillion VND (139.7 million USD).

Vietnam Airlines shares on UPCoM have increased by nearly a quarter since the end of last year, ending at 41,200 VND per share on April 16.

The private-equity new-age carrier Vietjet is now the only aviation firm that lists shares on the stock market with the market value of 3 billion USD.-VNA