Vietnam Airlines plans road shows in Hanoi, HCMC

By Mai Phuong, Thanh Nien News

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Vietnam Airlines will hold road shows in Hanoi and Ho Chi Minh City later this month as it seeks to sell its initial public offering (IPO) scheduled for November.
They will be held on October 30 in HCMC and October 31in Hanoi.
The Hanoi-based airline plans to raise at least US$51.4 million by auctioning 49 million shares, or a 3.47 percent stake, at a reserve price of VND22,300 ($1.05) through its IPO on the HCM Stock Exchange on November 14.
It also plans to sell a total of 20 percent to foreign strategic partners by March 2015.
Each strategic investor must have been worth at least $4 billion the year to buy its shares, and there is a lock-in period of five years.
After the privatization, the government will retain a 75 percent controlling stake in the airline whose registered capital is around VND14 trillion ($661 million).

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