Vietnam Airlines (VN, Hanoi Noi Bai International) is planning to offer foreign investors as much as 15% in the airline when its IPO goes live in September this year. Bloomberg newswire reports Deputy Transport Minister Nguyen Hong Truong as saying the national airline is in talks with potential investors that include international carriers and financial companies from Singapore, Thailand and Europe.
On the back of stronger than expected returns, local LCC rival, VietJetAir (VJ, Hanoi Noi Bai International), has also declared plans to pursue an IPO within the next 24 months.
Valued at VND57trillion (USD2.7billion), the sale is part of Hanoi's grander scheme to accelerate the overhaul of over 400 state-owned companies and spur economic growth. Government believes attracting foreign investors will help spur technological advancement and therefore their competitiveness and profitability.
