Vietnam Airlines IPO raises $52m

The national flag carrier Vietnam Airlines has raised VND1,093 billion (US$52.05 million) through the sale of more than 49 million shares during its initial public offering (IPO) at the HCM City Stock Exchange on November 14. Some 1,577 investors bought the shares at an average price of VND22,307 (US$1.06) each. The largest investor was the Vietnam Technology and Commerce Bank (Techcombank), which acquired 52.18% of the shares for a reported VND574 billion (US$27.33 million). The government still owns 75 percent of the airline’s shares. Strategic investors own 20%, company staff and workers 1.5%, and other investors 3.5%. The Ministry of