Le Anh and Ngoc Lan
VNA planes sit at Tan Son Nhat International Airport in HCMC - PHOTO: ANH QUAN
A source told the Daily on November 11 that two domestic banks with majority State holdings have placed bids to buy over 48.3 million shares, or 98.61% of the total volume put up for sale. Besides, some 1,578 domestic individuals (including many VNA staff) and foreign individuals have registered to buy 120,800 shares.
This suggested that the market has strong interest in VNA shares despite the recent unsuccessful IPOs by many large State-owned enterprises, the national flag carrier said.
The IPO is scheduled to take place this Friday, offering 49 million shares (or 3.475% of its chartered capital) at the starting price of VND22,300 each.
A leader of an investment fund said that the low starting price is the main cause of the high share demand. The real value of the enterprise is much higher than the book value, so the price is rather cheap to many investors.
According to the equitization plan for VNA that was approved by the Prime Minister, the State will hold a 75% stake while 20% will be sold to strategic investors.
Meanwhile, some 49 million shares, equivalent to 3.475%, will be set aside for the public via auction while the rest will be sold at incentives for VNA’s employees.
Pham Ngoc Minh, general director of VNA, said that the air carrier will focus on fleet expansion after the IPO. Besides, it will continue investment in Jetstar Pacific to raise competitiveness in the low-cost segment.
However, BIDV Securities Company said that VNA has some disadvantages such as low average revenue at international routes. Meanwhile, VNA’s service quality is lower than other regional carriers.
Đăng ký: VietNam News