Vietnam’s private budget carrier VietJet Air
is speeding up a plan to launch an initial public offering (IPO) on the Ho Chi Minh Stock Exchange (HOSE
) by the end of this year, Chief Executive Officer and Founder Nguyen Thi Phuong Thao told the Nikkei Asian Review.
The IPO plan has been confirmed by VietJet Managing Director Luu Duc Khanh, who said at a meeting with investors in Ho Chi Minh City
last week, VietJet Managing Director Luu Duc Khanh said that the carrier has carried out roadshows overseas, and is preparing for another at home before debuting on the HOSE in the final months of this year.
“It is a good time for the company in term of growth and performance. We are sticking to the IPO plan within this year,” Khanh said.
Khanh last month told local media that the carrier would list its shares on a local stock exchange before going overseas, either Singapore or Hong Kong, in compliance with the Law on Securities.
According to Bloomberg, VietJet Air IPO will make Thao Southeast Asia’s first self-made female billionaire.
Since its inception in 2001, VietJet Air is now operating 37 routes in Vietnam, with plans for more, and has expanded its domestic market share to 40%.
The airline has set ambitious goals of expanding its international network which now comprises connections to Thailand, Singapore, South Korea, Taiwan, Malaysia, China and Myanmar.