Vietjet has certainly come a long way since first being known internationally as the “bikini airline from Vietnam”:
A few weeks earlier, the low cost carrier from Vietnam received full membership from the International Air Transportation Association (IATA), affirming the new-age carrier’s role and position in the aviation community in Vietnam and overseas. Prior to attaining membership, Vietjet had been certified by the IATA Operational Safety Audit (IOSA).
On 28 February 2017, Vietjet Aviation Joint Stock Company (“Vietjet”) was officially listed on the Ho Chi Minh Stock Exchange (HoSE). Vietjet is the first airline in Vietnam to be listed on HoSE and will go by the stock code VJC.
The airline debuted at VND90,000 per share (approximately US$3.95) representing a VND27 trillion (US$1.2 billion) market capitalization. A major addition to the HoSE representing 1.5% of the total exchange capitalization (as of February 15, 2017). Vietjet has chartered capital of VND3 trillion (approximately US$132million).
The airline will now join the ranks of ‘VN 30’, Vietnam’s biggest publicly traded companies in terms of market capitalisation. Vietjet is the first Vietnamese company to have completed an IPO that meets international standards and practices, including Reg S. BNP Paribas, Deutsche Bank and JP Morgan are the IPO’s foreign joint global consultants.
24 international investors subscribed to Vietjet’s offering including Singapore’s sovereign fund GIC, Wellington Management, Morgan Stanley, Dragon Capital and VinaCaptial to name a few.
“Vietjet shall maintain a continuous and high growth rate and we believe that there will be a brighter future in the air for our passengers, the airline and its investors,” said Vietjet’s President & CEO, Nguyen Thi Phuong Thao.
“Vietjet is leading the way in becoming an airline with high-quality services and efficient management, and as a listed company that meets best standards and practices in Vietnam and internationally. In addition to delivering new values to our passengers, we wish to bring new added value to our investors, and for Vietnamese and international markets as well.”
We have flew with Vietjet on several occasions to Vietnam and were pretty impressed with their service standards. Check out our review on Vietjet.