SASCO to launch IPO in September
The Southern Airports Services Company Limited (SASCO) will launch its first initial public offering of more than 31 million shares on September 18.
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| A corner of SASCO Blue Lagoon Resort in the southern province of Kien Giang's Phu Quoc Island District. The resort is one of the most popular brand names of SASCO. — Photo visitbeyond.com |
This was announced by the HCM City Stock Exchange.
The SASCO shares, which account for a 23.6 per cent stake in the bank, will be auctioned at the HCM City bourse for an initial price of VND10,000 (US$0.47) per share. The details are yet to be announced.
The headquarters of SASCO, an affiliate of the Airports Corporation of Viet Nam, is located in Tan Son Nhat Airport in HCM City. The company offers various services at airports such as duty-free shops, restaurants, VIP lounge, travel service and transport.
The company, ranked among the 500 largest Vietnamese enterprises, earned a revenue of about VND2 trillion ($95.23 million) in 2013.
Founded in 1993, SASCO has been operating in multi-business lines with various services and activities at Tan Son Nhat international airport, and has expanded to outside markets through its subsidiaries and branches. Its most popular brand names include SASCO Duty-Free Tan Son Nhat, BOOM Space, SASCO Travel, SASCO Blue Lagoon Resort and Viet Spa.
Two companies which are also part of Viet Nam's airport service sector are the Noi Bai Airport Services Joint Stock Company (NASCO) and the Da Nang Airport Service Joint Stock Company (MASCO), both members of Vietnam Airlines. — VNS
