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VNA plans woo strategic investors

Update: October, 31/2014 - 08:32

Vietnam Airlines expects to have regional stature in the Asia-Pacific region by 2020. The firm will sell 282 million shares to the strategic investors, equally to 20 per cent of the firm's registered capital. — Photo

HCM CITY (VNS) — National carrier Vietnam Airlines held a roadshow in HCM City yesterday, to introduce investors to its business operations and development plans, before launching its initial public offering (IPO).

About 250 people, representing the government, the ministries of transport and finance and investors, as well as investment funds, banks and businesses attended the seminar.

Vietnam Airlines will offer about 49 million shares at the auction, equally to 3.475 per cent of its registered capital of VND14.1 trillion or $671.4 million. Each share will be worth VND22,300, or US$1.06.

The IPO will be held at HCM City's Stock Exchange on November 14 this year.

Deputy Minister of Transport Nguyen Ngoc Dong said that in the long-term development orientation plan from now to 2020 and 2030, Vietnam Airlines will be a key airline of the country, having regional stature in the Asia-Pacific region, competitive capacity and impressive business results, besides being favoured by passengers.

Dong said the Transport Ministry will continue to support Vietnam Airlines in fulfilling its role as the national carrier.

"Being one of Viet Nam's largest businesses in terms of scale, Vietnam Airlines' equitisation has been attracting concern from domestic and foreign investors," added Dong.

At the seminar, many investors focused on the firm's share potential and asked several questions related to its equitisation plan, restructuring project after equitisation and revamp of air fleet, besides increase in capital.

According to Chairman of Vietnam Airlines' Council of Members Pham Viet Thanh, equitisation is an opportunity for Vietnam Airlines to change itself. It involves reshuffle of investors, revamp of the administration and improvement of its capacity, not only now but also in the future.

Thanh said that his firm will prepare groups of experts, supply explicit information and data, and create the best conditions to help the investors learn more about Vietnam Airlines.

The same seminar will open in Ha Noi today.

Vietnam Airlines began its programme of searching for strategic investors in September this year. The strategic investors will be foreign strategic partners or foreign financial investors, not exceeding three in number.

Thanh said that so far two strategic investors have shown interest. Vietnam Airlines will sell 282 million shares to the strategic investors, equally to 20 per cent of the firm's registered capital. — VNS

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