After 18 years of expansion, NCTS now serves air cargo for 33 airlines, including three domestic airlines and thirty foreign carriers. The primary service types provided by the company are cargo servicing, cargo storage, and cargo handling. — Photo NCTS

Nội Bài Airport Services Joint Stock Company (NASCO) plans to auction one million shares of Nội Bài Cargo Terminal Services (NCTS), equivalent to 3.82 per cent of NCTS's charter capital, with a starting bid of VNĐ87,130 per share.

The Hà Nội Stock Exchange (HNX) will undertake an auction on August 25.

NASCO and NCTS are both subsidiaries of Vietnam Airlines Corporation. Vietnam Airlines Corporation holds 51 per cent of charter capital at NASCO and 55.13 per cent of charter capital at NCTS.

The sale of NASCO's capital at NCTS aims to implement NASCO's divestment policy as well as following the instruction of Vietnam Airlines Corporation. After the auction, NASCO's ownership rate in NCTS is estimated to fall from 6.98 per cent to 3.16 per cent. As a result, NASCO is no longer a major shareholder in NCTS.

NCTS began trading on the HCM City Stock Exchange (HOSE) on January 8, 2015. NCT shares are currently valued at VNĐ88,500 per share.

According to the State Securities Commission's Official Letter No. 4004/UBK-PTTT issued June 27, 2022, the foreign ownership rate in NCTS is capped at 30 per cent. At the upcoming auction, foreign investors are allowed to purchase 100 per cent of the offered shares.

Established in 2005, NCTS currently has a charter capital of more than VNĐ261.6 billion. After 18 years of expansion, NCTS now serves air cargo for 33 airlines, including three domestic airlines and thirty foreign carriers. The primary service types provided by the company are cargo servicing, cargo storage, and cargo handling.

In recent years, NCTS's business results have remained consistent. NCTS is one of the firms whose business results were less impacted by COVID-19 pandemic.

In 2021, the revenue of the company increased by 11 per cent from 2020's figure, reaching VNĐ742 billion. Its revenue declined to VNĐ735.9 billion in 2022.

By the end of the first quarter of 2023, the company achieved revenue of nearly VNĐ150 billion. NCTS's total asset value remained above VNĐ500 billion. In the last three years, annual profit after tax has surpassed VNĐ200 billion. — VNS