Bamboo Airways set to list its stocks
In this article (5)
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.
Questions & Answers
Q.When does Bamboo Airways plan to list its stocks on the Unlisted Public Company Market?
When does Bamboo Airways plan to list its stocks on the Unlisted Public Company Market?
Bamboo Airways intends to list its stocks on UPCoM next quarter. This move is part of its preparations for a later Initial Public Offering in the U.S.
Q.What is the targeted market capitalisation for Bamboo Airways after issuing shares in the U.S.?
What is the targeted market capitalisation for Bamboo Airways after issuing shares in the U.S.?
The airline aims for a market capitalisation of $4 billion after raising $200 million by issuing shares on the New York Stock Exchange. This capital will support the startup airline's growth.
Q.Which U.S. City will Bamboo Airways begin regular flights to?
Which U.S. City will Bamboo Airways begin regular flights to?
Bamboo Airways plans to commence regular services to San Francisco from Ho Chi Minh City by the end of this year. Initially, there will be five return flights per week, increasing to daily services later.
Q.Does Bamboo Airways plan to offer flights to the UK this year?
Does Bamboo Airways plan to offer flights to the UK this year?
Yes, Bamboo Airways has announced plans to fly to the U.K. This year. They intend to operate six flights a week connecting Hanoi and Ho Chi Minh City to London.
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