With the reference price on the first trading day set at VND40,600 ($1.75 ) per share, the fluctuation range is ± 20 percent. The capitalisation value was estimated at VND 57 trillion ($2.45 billion).
Nguyen Hoang Anh, Chairman of the Committee for Management of State Capital at Enterprises (CMSC), said Vietnam Airlines had become the largest capitalised company listed on the HoSE from the beginning of this year and one of the two companies among 19 State-owned corporations, which are represented by CMSC, with shares listed on the bourse.
“This is the result of the effective business strategy that Vietnam Airlines' Board of Directors has enforced," Anh said. "From the perspective of State owner, we assess that the State capital at Vietnam Airlines is an effective investment, bringing practical benefits to the State, shareholders and employees."
Chairman of the Vietnam Airlines' Board of Directors Pham Ngoc Minh said the listing was an important step to help Vietnam Airlines improve its reputation, increase transparency, standardise operations and access new investment sources.
On April 23 this year, all HVN shares listed on the UPCoM stock exchange were cancelled. For more than two years of listing at UPCoM, HVN was among the top five most traded stocks with an average of more than 800,000 shares traded per session, equivalent to value of VND 30.6 billion (based on the average HVN share price in 2018).
Officially operating as a joint stock company from April 1, 2015, Vietnam Airlines has maintained a strong growth rate with revenue and profit targets higher than the previous year.
In the first quarter of 2019, Vietnam Airlines made consolidated revenue of nearly VND 26 trillion (almost $1.12 billion) and consolidated pre-tax profit of nearly VND1.58 trillion ($67.94 million), equal to 45 percent of the 2019 plan.