Bamboo Airways shares priced at $3.54

Thursday, Nov 07, 2019 15:48

Bamboo Airways plans to list 400 million shares on one of the two local stock exchanges as early as January 2020 following its initial public offering (IPO). — Photo

Bamboo Airways shares are valued at VND82,280 (US$3.54) per share, 37 per cent higher than the company’s expected IPO price.

The valuation was made by the Viet Nam Valuation and Inspection JSC (VIVC).

Both local and international media have recently reported the aviation arm of the property developer FLC Group is seeking to list 400 million shares on either Ho Chi Minh Stock Exchange or Ha Noi Stock Exchange as early as January 2020.

The company expects the debut and IPO price would be VND60,000 per share, which values the firm at $1 billion.

Bamboo Airways plans to increase its charter capital by VND2.2 trillion ($94.6 million) to VND6 trillion from the IPO, expand its fleet and market share in 2020.

The airline firm announced on November 2 that 405 million shares, worth VND4.05 trillion, will be traded on the Over-The-Counter (OTC) market as BAV.

The latest aviation firm was founded on May 31, 2017. It has had nearly 15,000 flights with a 93.9 per cent on-time performance rate and a 90 per cent occupancy rate – the highest figures in the Vietnamese aviation industry.

The airline is exploring 28 international and domestic routes. It plans to increase the number to 37-40 routes by the end of 2019 with a fleet of 30 planes. — VNS

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