Nguyen Hoang Anh, Chairman of the Committee for Management of State Capital at Enterprises, rings the gong to open the first trading session for HVN shares on the Ho Chi Minh Stock Exchange (Photo: Vietnam Airlines)HCM City (VNA) - The Ho Chi Minh StockExchange (HoSE) on May 7 officially opened the first trading sessionfor more than 1.4 billion shares of Vietnam Airlines Corporation, listedwith code HVN.
According to Decision No 115/QD-SGDHCMdated April 11, 2019, HoSE approved the listing of HVN stocks with a totalvalue of 14,128 billion VND (607.75 million USD).
With the reference price on the first tradingday set at 40,600 VND (1.75 USD) per share, the fluctuation range is ± 20 percent. Thecapitalisation value was estimated at 57 trillion VND (2.45 billion USD).
Nguyen Hoang Anh, Chairman of the Committee for Managementof State Capital at Enterprises (CMSC), said Vietnam Airlines had become thelargest capitalised company listed on the HoSE from the beginning of this yearand one of the two companies among 19 State-owned corporations, which arerepresented by CMSC, with shares listed on the bourse.
“This is the result of the effectivebusiness strategy that Vietnam Airlines' Board of Directors hasenforced," Anh said. "From the perspective of State owner,we assess that the State capital at Vietnam Airlines is an effectiveinvestment, bringing practical benefits to the State, shareholders andemployees."
Chairman of the Vietnam Airlines' Board ofDirectors Pham Ngoc Minh said the listing was an important step to helpVietnam Airlines improve its reputation, increase transparency, standardiseoperations and access new investment sources.
On April 23 this year, all HVN shares listed onthe UPCoM stock exchange were cancelled. For more than two years oflisting at UPCoM, HVN was among the top five most traded stocks with an averageof more than 800,000 shares traded per session, equivalent to value of 30.6billion VND (based on the average HVN share price in 2018).
Officially operating as a joint stock companyfrom April 1, 2015, Vietnam Airlines has maintained a strong growth rate withrevenue and profit targets higher than the previous year.
In the first quarter of 2019, Vietnam Airlinesmade consolidated revenue of nearly 26 trillion VND (almost 1.12 billion USD)and consolidated pre-tax profit of nearly 1.58 trillion VND (67.94 millionUSD), equal to 45 percent of the 2019 plan.-VNA
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