Ha Noi Tourism Transport Enterprise, which is mainly active in providing transport services via buses, plans to launch its IPO on March 26. — Photo transerco.vn

 HA NOI (Biz Hub) – The Ha Noi Tourism Transport Enterprise plans to launch its initial public offering (IPO) at the Ha Noi Stock Exchange on March 26.

More than 3.8 million shares will be sold during the IPO, accounting for 45 per cent of its chartered capital, at an initial price of VND10,000 (US$0.48) per share.

It has a registered capital of VND85 billion ($47 million), of which the State owns 49 per cent.

The enterprise, under the ownership of the Ha Noi Transport Corporation, is mainly active in providing transport services via buses and has a total fleet of 22 buses.

It had recorded a growth rate in revenue of 307.5 per cent during the 2012 to 2014 period, from VND293 million ($13,900) in 2012 to 938.6 million ($42,800) in 2014.

After the IPO, the company will be renamed Newway Transport Joint Stock Company and its activities will focus on providing transport services, vehicle maintenance services, transport vehicle's spare parts, and organise inbound tours. — VNS