Bamboo Airways to list on stock market next year

Bamboo Airways plans to float 400 million shares on the local stock market in January 2020 at the earliest, the local media reported.

Nguyen Khac Hai, deputy general director of Bamboo Airways, said the shares will be tradable on either the HCMC or the Hanoi stock exchange next year. The starting price will range from VND50,000 to VND60,000 per share.

Speaking to Bloomberg, Bamboo Airways Chairman Trinh Van Quyet noted that the company expects to raise some US$100 million from the initial public offering. The carrier’s registered capital will increase to roughly VND4 trillion from VND2.2 trillion after the share sale, Hai stated.

According to Bamboo Airways, the carrier will receive five new aircraft this month, expanding its fleet to 25 airplanes by the end of this year and 30 in 2020.

It aims to become one of the first carriers in Vietnam to operate direct routes to the United States by the end of next year.

Currently, Bamboo Airways operates 26 domestic and international flights to Japan, South Korea and China. This year, it plans to expand its network to 37 to 40 routes.

saigontimes

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