SAGS, a professional company that provides the full-range of ground services at Tan Son Nhat International Airport, will offer 2.7 million shares at its initial public offering on December 8. — Photo infonet

HA NOI (Biz Hub) — Saigon Ground Services (SAGS) will launch its initial public offering on December 8, 2014, reported the HCM City Stock Exchange.

SAGS is a company that provides the full-range of ground services at Tan Son Nhat International Airport in HCM City.

About 2.7 million SAGS shares will be offered at the auction, equal to 19.3 per cent of the company's registered capital of VND140.5 billion (US$6.7 million).

Each share will be sold at the initial price of VND12,371 ($0.58).

The firm has three strategic shareholders, namely the Investment Mining Port Joint Stock Company with 1.83 million shares; VietJet Air with 562,000 shares; and the Hoan Loc Viet Investment and Trade Joint Stock Company with 316,000 shares, equal to 13 per cent, four per cent and 2.25 per cent of SAGS' registered capital respectively.

SAGS provides ramp services, including passenger boarding bridges, aircraft pushback and tow-in, and marshalling for all airlines at the Tan Son Nhat Airport. — VNS