ACV currently is responsible for managing, coordinating, and investing in the operation of the entire system of 22 airports throughout Việt Nam, including nine international airports and 13 domestic airports. — Photo ACV

With a market capitalisation of US$7.7 billion, the Airports Corporation of Vietnam (ACV) stands far ahead of the rest of the firms on the Unlisted Public Company Market (UPCoM) exchange and ranks among the top 10 most valuable companies across all three Vietnamese stock exchanges.

Việt Nam currently boasts three stock exchanges, the HCM Stock Exchange (HoSE), the Hà Nội Stock Exchange (HNX), and UPCoM.

When compared to the two major exchanges, HoSE and HNX, UPCoM offers a wider trading price range, which attracts investors. However, stocks on UPCoM are not eligible for margin trading, resulting in lower daily liquidity, and only about 20 percent of stocks are frequently traded. Companies listed on UPCoM face less pressure regarding information disclosure and other obligations compared to those on HoSE and HNX.

Since the beginning of 2024, its stock price has risen over 30 per cent, reaching its highest price level since December 2022.

The market capitalisation of ACV has increased by nearly VNĐ44 trillion ($2 billion) to over VNĐ188 trillion ($7.7 billion). This figure is significantly higher than that of other companies listed on UPCoM. Moreover, it is almost double the market capitalisation of Viettel Global (VGI) and Masan Consumer (MCH), and over three times the value of Bình Sơn Refining and Petrochemical Company (BSR) and Việt Nam Engine and Agricultural Machinery Corporation (VEAM).

The substantial increase in market capitalisation since the beginning of the year has propelled ACV to the fifth position among the largest companies traded in Viet Nam, surpassing renowned names such as Hoà Phát Group, Vingroup, Vinamilk, VPBank, and Techcombank. ACV's current market capitalisation is only less than Vietcombank, BIDV, VietinBank, and Vinhomes.

Established in 2012 through the merger of the Airports Corporation of Việt Nam in the North, Central, and South regions, ACV underwent equitisation in 2015 and officially operated as a joint-stock company from April 1, 2016. It had a charter capital of VNĐ21.7 trillion, with the State holding 95.4 per cent of the shares.

Nearly 2.18 billion ACV shares were listed on UPCoM on November 21, 2016, with a reference price of VNĐ25,000 per share, corresponding to an initial valuation of around VNĐ54.4 trillion ($2.3 billion). After more than seven years of fluctuations in the stock market, the market capitalisation of ACV has tripled.

Giant with 22 airports

ACV currently holds a monopoly on providing aviation services to domestic and international airlines, including security services, ground services, passenger services, takeoff and landing operations, and more. The company is responsible for managing, coordinating, and investing in the operation of the entire system of 22 airports throughout Việt Nam, including nine international airports and 13 domestic airports.

In 2023, ACV served 113.5 million passengers, a 15 per cent increase compared to 2022, including 32.6 million international passengers, a 173 per cent increase. Total cargo volume handled was 1.2 million tonnes, and the total number of takeoffs and landings reached 710,000 flights. As a result, the company achieved record-breaking revenue of over VNĐ20 trillion, a 45 per cent increase compared to the previous year. After-tax profits also increased by nearly 21 per cent compared to 2022, reaching nearly VNĐ8.6 trillion, the highest ever achieved by ACV. — VNS