The firm announced on November 2 that 405 million shares, worth VNĐ4.05 trillion, will be traded on the Over-The-Counter (OTC) market as BAV.
Bamboo Airways plans to list 400 million shares on one of the two local stock exchanges as early as January 2020 following its initial public offering (IPO). — Photo bambooairways.com
Bamboo Airways shares are valued at VNĐ82,280 (US$3.54) per share, 37 per cent higher than the company’s expected IPO price.
The valuation was made by the Việt Nam Valuation and Inspection JSC (VIVC).
Both local and international media have recently reported the aviation arm of the property developer FLC Group is seeking to list 400 million shares on either Hồ Chí Minh Stock Exchange or Hà Nội Stock Exchange as early as January 2020.
The company expects the debut and IPO price would be VNĐ60,000 per share, which values the firm at $1 billion.
Bamboo Airways plans to increase its charter capital by VNĐ2.2 trillion ($94.6 million) to VNĐ6 trillion from the IPO, expand its fleet and market share in 2020.
The airline firm announced on November 2 that 405 million shares, worth VNĐ4.05 trillion, will be traded on the Over-The-Counter (OTC) market as BAV.
The latest aviation firm was founded on May 31, 2017. It has had nearly 15,000 flights with a 93.9 per cent on-time performance rate and a 90 per cent occupancy rate – the highest figures in the Vietnamese aviation industry.
The airline is exploring 28 international and domestic routes. It plans to increase the number to 37-40 routes by the end of 2019 with a fleet of 30 planes. — VNS
Newly-opened Bamboo Airways topped the list of Vietnamese airlines in terms of on-time performance index in the first nine months of this year, according to the Civil Aviation Administration of Vietnam (CAAV).
Bamboo Airways plans to launch direct flights from Vietnam to Prague in the Czech Republic in the first quarter of next year.