Airports Corporation of Vietnam to trade on UPCoM

03.11.2016

Airports Corporation of Vietnam (ACV) has been given permission to trade on the Unlisted Public Company (UPCoM) market under the code ACV, with a total of 2.18 billion shares and a registered stock value of more than VND21.7 trillion ($976.5 million).

A representative from ACV confirmed with VET that it will soon publish relevant information on its website.

ACV is a joint stock company operating under the form of the parent – subsidiary company, with the State holding a majority stake. In October 2015 the government approved its equitization plan, with State ownership to fall to 75 per cent. In March this year it held its first shareholders meeting.  

ACV will become the largest enterprise by charter capital on UPCoM. It manages 22 airports throughout Vietnam, of which seven are international and 15 domestic, with 21 being directly managed by the corporation, and it also has a range of joint ventures with other companies.

In the 2012-2014 period it served 132.6 million passengers at a growth rate of 16 per cent per year, and handled over 2.28 billion tons of cargo, for growth of 15.29 per cent per year.

Officially becoming a joint stock company in March, ACV has charter capital of over VND21 trillion ($940 million), equal to 2.177 billion shares at a price of VND10,000 ($0.44) each. The government still holds 95.4 per cent.

Its targets for 2016 include welcoming 73 million passengers, a 12.4 per cent increase against 2015, 53 million of which are domestic, and to cater to 516,000 commercial flights. Revenue is targeted at almost VND12.1 trillion ($541.9 million) and pre-tax profit at over VND2 trillion ($89.5 million).

It recently recorded its first-ever losses, in the second quarter of this year, of VND124 billion ($5.58 million).

A number of State enterprises are also listed, such as the Hanoi Alcohol Beer & Beverages Corp. (Habeco), the Hanoi Construction Corporation (Hancorp), and Vinacomin Viet Bac.

Source: Vietnam.net

Photo: Airports Corporation of Vietnam