VietJetAir (VJ, Hanoi Noi Bai International) has set its sights on an international listing following its domestic initial public offering (IPO), reports Reuters. Options for the international listing are likely to be Hong Kong, Singapore or Tokyo.

The Vietnamese LCC plans to debut on the Ho Chi Minh Stock Exchange on February 23, after a successful offering in late 2016 which was oversubscribed by almost two times. Reports suggest that the 44.8 million shares booked by institutional investors values the company at USD1.2 billion.

VietJetAir commenced operations in 2011 and now commands almost 30% of Vietnam’s air passenger capacity overall, and 40% of the domestic market. Its top twenty routes by capacity are all within Vietnam, where it has focused its offerings, but it also runs scheduled flights to Thailand, South Korea, Hong Kong, Taiwan, Malaysia, and Singapore. In early December, VietJet signed a Memorandum of Understanding (MOU) with Air India (AI, Delhi International) over proposed cooperation on flights between Vietnam and India.