The IPO is expected to take place in the third quarter, with the company likely to offer a 5-7 percent stake to secure a market capitalization of up to $4 billion, Reuters quoted its chairman, Trinh Van Quyet , as saying on Wednesday. It is preparing for the issuance together with an international auditing firm and plans to list on the New York Stock Exchange. Last month, Quyet had announced the airlines plans to list 105 million shares on either the Ho Chi Minh Stock Exchange or Hanoi Stock Exchange at an initial price of VND60,000 ($2.61), but on Wednesday he said that has now become "a backup plan." "The US IPO will be part of our efforts to expand our services globally." It expected to operate charter flights to the U.S. from July this year and thrice-weekly commercial flights from HCMC to San Francisco from September. The airline has received a permit from the U.S. Department of Transportation to carry passengers and cargo to that country. This year it also … [Read more...] about Bamboo Airways plans US IPO in Q3
Plans for sale aircraft
HANOI -- Vietnam’s Bamboo Airways plans to raise up to $200 million in an initial public offering in the United States, potentially securing a market capitalisation of up to $4 billion, its chairman Trinh Van Quyet said on Wednesday. Bamboo Airways, owned by property and leisure company FLC Group, plans to offer a 5%-7% stake in the IPO, which it expects in the third quarter of this year, Quyet told Reuters in an interview. “The IPO will be part of our efforts to expand our services globally,” Quyet said, adding that Bamboo Airways has been working with an international auditing firm for the potential offering on the New York Stock Exchange. The company said last month it planned to list its shares on a local stock exchange in the third quarter, but Quyet said on Wednesday that was now “a backup plan, depending on market conditions”. Quyet said the airline will increase its fleet to 40 aircraft by the end of this year, from the current 30, adding two Boeing 787-9 Dreamliners … [Read more...] about Vietnam’s Bamboo Airways plans to raise $200 million in U.S. IPO: chairman
Bamboo Airways plans to launch IPO in U.S. The Saigon Times Passengers complete check-in procedures at Bamboo Airways’ check-in counter at the Tan Son Nhat International Airport. The air carrier plans to launch its IPO in the United States in the third quarter of this year - PHOTO: BAMBOO AIRWAYS HCMC – Bamboo Airways plans to launch its initial public offering (IPO) in the United States in the third quarter of this year to mobilize US$200 million, said Bamboo Airways Chairman Trinh Van Quyet. The IPO is expected to help increase the airline’s market capitalization to US$4 billion, according to Reuters . The air carrier will offer a 5%-7% stake in the IPO. Bamboo Airways, a subsidiary of property developer FLC Group, has been working with an international auditing firm to prepare for the IPO, which may be launched on the New York Stock Exchange. This is the first time Quyet has mentioned the IPO plan in the United States. At a recent shareholder meeting of … [Read more...] about Bamboo Airways plans to launch IPO in U.S.
Vingroup’s billionaire Pham Nhat Vuong is taking an unexpected step entering the world's largest electric car market. Vingroup’s billionaire Pham Nhat Vuong Bloomberg has cited a source as saying that Vingroup Group (VIC) of billionaire Pham Nhat Vuong is considering an initial public offering (IPO) in the US for its VinFast auto company, which is expected to mobilize about $2-3 billion. VinFast expects a valuation of at least $50 billion or even up to $70-75 billion. With this valuation, the capitalization of VinFast will surpass the famous car maker Ferrari (capitalization at $52 billion), Honda ($51 billion), Ford ($49 billion), Kia ($30 billion) ... and only behind some famous brands such as Tesla, Toyota, Volkswagen, Mercedes Benz, GM, BMW and others. This is an unexpected move, but it is in line with his aim of conquering the top market in the world. The information was released when Vuong’s VinFast company began receiving the first orders for electric … [Read more...] about Billionaire Pham Nhat Vuong plans billion-dollar IPO in the US
A decade ago, the northern province of Quang Ninh faced bottlenecks in infrastructure development. It took people nearly a day to go to Van Don from Hanoi. The time to travel from Hanoi to Ha Long City was five to six hours, Quang Ninh’s Party Secretary Nguyen Xuan Ky told VietNamNet. Van Don today is much different from itself 10 years ago. Nearly 10 years ago, former Vice Chairman of Quang Ninh Provincial People's Committee Nguyen Van Thanh and Mr. Nguyen Duc Long, chairman of the Quang Ninh Provincial People's Council, took on an important task: inviting an American billionaire to visit Van Don in order to call for investment in turning this island district into a tourist destination with a casino. After great efforts to contact him, the American billionaire flew to Vietnam on a special flight. As the road to Van Don was inconvenient, the time to travel from Hanoi to the site was nearly a day. Quang Ninh’s officials borrowed the aircraft of the boss of the … [Read more...] about Four questions sparked Quang Ninh’s awakening 10 years ago