Bamboo Airways set to list its stocks
Bamboo Airways plans to list on the Unlisted Public Company Market next quarter while preparing for an IPO in the U.S.
Prices of the ticker BAV will be at least VND60,000 ($2.65), CEO Nguyen Khac Hai said in a statement Friday.
UPCoM serves as a market to encourage companies to go public. Vietnam’s two main bourses are the Ho Chi Minh Stock Exchange and the Hanoi Stock Exchange.
The company targets to raise $200 million by issuing shares on the New York Stock Exchange, giving the startup airline a market cap of $4 billion.
The airline plans to begin regular services to the U.S. city of San Francisco from HCMC by the end of this year, with five return flights a week initially and later daily.
It has been operating charter flights to the U.S. since the end of September.
The airline also announced plans to fly to the U.K. this year with six flights a week from Hanoi and HCMC to London.