ACV to auction nearly 78 million shares in December

The Airports Corporation of Vietnam (ACV) will conduct an initial public offering on December 10, heard at a conference held by the company on November 19 in Ha Noi City which attracted more than 300 investors.
Accordingly, about 78 million shares of ACV, or 3.47 percent of charter capital, will be offered at the initial offering price of VND11,800 ($0.5282) each on the Ho Chi Minh City Stock Exchange next month.
ACV currently runs 22 airports in Vietnam. Capacity of ACV’s airports increased from 45.15 million passengers per annum in 2011 to nearly 70 million passengers per annum in 2015.
According to the Ministry of Transport, converting ACV into a joint stock company from a state-owned one will create opportunities for local and foreign investors to invest in a potentially lucrative field. At the same time, it will help ACV to improve its financial and management abilities so as to resolve overload at some airports. Besides, ACV will be able to afford new projects to meet growing demand of the country’s aviation industry, which includes the construction of Long Thanh International Airport.

By Bich Quyen – Translated by Thuy Doan

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