The initial public offering of the state-owned Airports
Corporation of Vietnam (ACV) is expected to occur during the second
quarter of 2015, the Thoi Bao Kinh Te Saigon Online reported.
The paper reported that the state plans to maintain 75
percent ownership of the company, which has an estimated value of
roughly US$1.74 billion.
The ACV currently operates 22 international and domestic airports across Vietnam.
The measure is aimed to raise funds for the Long Thanh
International Airport, which is scheduled to be built this year some 40
kilometers (25 miles) northeast of Ho Chi Minh City, according to
Minister of Transport Dinh La Thang.
The airport will require around $5.6 billion to complete
the first stage of its development project by 2020 -- around 53 percent
of which will come from the state budget and official development
assistance (ODA) loans.
The new airport is expected to receive 25 million passengers by 2020 and double that by 2030.
The ACV, which was established in 2012 as a merger between
three airport corporations in the north, central, and south, now
manages 24 member companies. Last year two of its members, namely the
Southern Airports Services Company and Saigon Ground Services, held
IPOs.
The company reported a turnover of more than $394.56
million last year, a year-on-year increase of 0.86 percent, and $57.8
million in pretax profits.
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