Vietnam Airlines to offer 5% equity stake

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP September 1, 2014 16:22

Vietnam Airlines to offer 5% equity stake

Vietnam Airlines is set to offer a 5% equity stake to public investors during its IPO scheduled for November of this year.

Vietnam Airlines president and chief executive, Pham Ngoc Minh, told local media this week that the company is intending to raise VND1.5trillion (USD70.6 million) during the offering in order to restart its long-haul expansion plans.

In addition to the 5% offering, the airline is also in talks with several potential strategic investors, among them an undisclosed Japanese firm, to sell a 20% stake in the company. The airline could sell stakes to one or more strategic investors totalling 20%, Pham said.

Should the sale prove successful, the government will retain a 75% stake in the carrier.

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP September 1, 2014 16:22