Vietnam Airlines plans public offering

Update: August, 30/2014 - 08:01

HA NOI (VNS)— National flag carrier Vietnam Airlines plans to make its initial public offering (IPO) in the next three months, President of the company, Pham Ngoc Minh, told the Wall Street Journal.

The move is one of the most anticipated equitisations of big State corporations in Viet Nam.

Minh said the carrier would sell 5 per cent of its stakes and expected to raise VND1,500 trillion (about US$71 million). It also planned to sell another 20 per cent of total capital to one or more strategic investors. Several potential strategic investors are from Japan.

After the IPO, the State will hold the remaining 75 per cent of the airline's shares, but Minh said the Government would sell more stakes in the future.— VNS