Transport Ministry urges Vietnam Airlines to list on stock market
Transport Ministry urges Vietnam Airlines to list on stock market
Deputy Minister of Transport Nguyen Hong Truong has urged the national airline to quickly list its shares on the stock market to make its operations transparent.
Speaking at the Vietnam Airlines’ first general meeting of shareholders on Thursday, March 12, Truong said that after equitization, the airlines needs to change the nature of operations, modernize its fleet, improve the quality of services, and take profit as its target."Let’s look at Vietjet Air (Vietnam’s first private airline), their profit is much higher," Deputy Minister Truong said.
Truong also asked Vietnam Airlines to choose good investors to improve the quality of service and expand its network to the world. Also, the airline was urged to quickly list its shares on the stock market for more transparency and capital mobilization.
"Vietnam Airlines must be self-reliant. Vietnam Airlines currently has banks as its shareholders; this is an opportunity to mobilize more capital and improve potential," said the Deputy Minister.
In the initial public offering (IPO) in late November last year, Techcombank and Vietcombank bought a total of 48.3 million shares of Vietnam Airlines, equivalent to more than 3% of the charter capital and about 98% of the shares offered.
At the shareholders' meeting yesterday, representatives of these banks were nominated to the Board of Management and Supervisory Board of Vietnam Airlines.
Accordingly, Techcombank Securities Company’s Chair Nguyen Xuan Minh is likely to represent Techcombank in the five-member Board of Directors of Vietnam Airlines.
The four remaining members are all representatives of the State capital and the longtime officials of Vietnam Airlines. Meanwhile, Mr. Lai Huu Phuoc - representative of Vietcombank was recommended to the Board of Supervisors.
