Illustrative image (Source: cafef.vn)Hanoi (VNA) - Airports Corporation of Vietnam (ACV) is seeking to earnmore than 108.6 billion VND (4.8 million USD) by selling nearly four millionshares of Southern Airports Services Joint Stock Company (SASCO).
ACVcurrently holds 67 million shares of Sasco, equal to 51 percent of the airportservices provider’s chartered capital. ACV plans to sell the four millionshares between December 6 and January 4.
SASCOis listed under code SAS on the Unlisted Public Company Market (UPCoM). Thecompany’s shares were up 2.2 percent on December 6 to close at 27,500 VND pershare.
SASCOoperates in the airport services business and holds the largest market share insupplying products and services at the Tan Son Nhat International Airport, Vietnam’slargest airport by the number of passengers.
In2015, Tan Son Nhat International Airport received more than 26 millionpassengers, slightly higher than the airport’s registered capacity of 25million passengers per year. In the first nine months of this year, thesouthern international airport received some 24 million passengers, an increaseof 24 percent from the previous corresponding period.
SASCO’smain products and services include duty-free products, arts & crafts, localspecialties and business lounges, as well as food and beverages, travel,transportation and advertising services.
Ofthese main business activities, selling duty-free products and renting businesslounges generated the highest profits for SASCO, with total profit of 120billion VND in 2015.
SASCOhas the comparative advantage over competitors in the duty-free products sectoras it is supported by strategic partner Imex Pan Pacific Group, which holds 80 percentmarket share in domestic high-end fashion.
Inthe first nine months of 2016, SASCO earned 1.54 trillion VND in revenue, ayearly increase of 4 percent, and 169 billion VND in profits, an increase of 12percent year-on-year.
Inthe mid-term period, the expansion of Tan Son Nhat International Airport, whichis expected to be completed in 2018, will increase the airport’s passengercapacity by 60 percent to 40 million passengers per year. That will help SASCOimprove its income and profits in the next three to five years.
SASCOwill also have an opportunity to expand its market when it becomes the largestservice provider at Long Thanh International Airport, which is scheduled tobecome operational in 2025.–VNA
ACVcurrently holds 67 million shares of Sasco, equal to 51 percent of the airportservices provider’s chartered capital. ACV plans to sell the four millionshares between December 6 and January 4.
SASCOis listed under code SAS on the Unlisted Public Company Market (UPCoM). Thecompany’s shares were up 2.2 percent on December 6 to close at 27,500 VND pershare.
SASCOoperates in the airport services business and holds the largest market share insupplying products and services at the Tan Son Nhat International Airport, Vietnam’slargest airport by the number of passengers.
In2015, Tan Son Nhat International Airport received more than 26 millionpassengers, slightly higher than the airport’s registered capacity of 25million passengers per year. In the first nine months of this year, thesouthern international airport received some 24 million passengers, an increaseof 24 percent from the previous corresponding period.
SASCO’smain products and services include duty-free products, arts & crafts, localspecialties and business lounges, as well as food and beverages, travel,transportation and advertising services.
Ofthese main business activities, selling duty-free products and renting businesslounges generated the highest profits for SASCO, with total profit of 120billion VND in 2015.
SASCOhas the comparative advantage over competitors in the duty-free products sectoras it is supported by strategic partner Imex Pan Pacific Group, which holds 80 percentmarket share in domestic high-end fashion.
Inthe first nine months of 2016, SASCO earned 1.54 trillion VND in revenue, ayearly increase of 4 percent, and 169 billion VND in profits, an increase of 12percent year-on-year.
Inthe mid-term period, the expansion of Tan Son Nhat International Airport, whichis expected to be completed in 2018, will increase the airport’s passengercapacity by 60 percent to 40 million passengers per year. That will help SASCOimprove its income and profits in the next three to five years.
SASCOwill also have an opportunity to expand its market when it becomes the largestservice provider at Long Thanh International Airport, which is scheduled tobecome operational in 2025.–VNA
VNA
