PM approves equitisation plan of airports corporation

Wednesday, Oct 07, 2015 16:47

Passengers complete check-in procedures at Da Nang international airport. — Photo

HA NOI (Biz Hub) — The Prime Minister has approved the equitisation plan of the Airports Corporation of Vietnam (ACV).

Under the plan, the ACV will sell part of the State's shares while issuing more shares to increase its charter capital.

Accordingly, the State will hold 75 per cent of the corporation's charter capital, while 20 per cent will be sold to strategic investors, 1.4 per cent to its workers, 0.13 per cent to the trade union and 3.47 per cent at public auctions.

The Prime Minister assigned the Minister of Transport to determine the starting price of the ACV's initial public offering.

The corporation was tasked with implementing the public offering plan and listing its stocks on the market when conditions are mature and in line with the law.

The IPO will be made at the HCM City Stock Exchange.

Established in 2012 by merging three airport corporations in northern, central and southern Viet Nam, the ACV is the country's largest airport operator.

The ACV has registered capital of nearly VND14.7 trillion (US$655 million). It has 24 subsidiaries that manage businesses at 22 international and domestic airports nationwide.

In 2014, the corporation earned an estimated VND8.57 trillion ($382 million) in revenue, 0.86 percent higher than in 2013. — VNS

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