The state-owned ground service provider at Ho Chi Minh City's international airport will go public next month, selling more than 31 million shares or a quarter of its charter capital.
A source from the Southern Airports Services Company (SASCO) which provides ground services at Tan Son Nhat Airport said it will sell shares on the Ho Chi Minh Stock Exchange starting September 18.
More than 31 million shares, or 23.6 percent of the company’s registered capital, will be sold at the starting prices of VND10,000 (nearly half a dollar) apiece.
SASCO is one of the three major members of the country’s sole airports management company Airports Corporation of Vietnam, in addition to NASCO which manages Noi Bai airport and MASCO in Danang.
The company directly operates and manages contractors that provide tax-free retailing, dining and transportation services at each of the airports.
Its listing comes as part of an overall plan to privatize state-owned giants.
Vietnam Airlines and the garment group Vinatex are both planning to participate in an IPO this fall.