VietJet seeks first Vietnam overseas listing, in talks with London, HK & SGX

VietJet Aviation Joint Stock Co., which controls almost half of Vietnam’s domestic airline market, is in talks to become the first company in the Southeast Asian nation to list its shares in an overseas stock exchange.

“We’ve been approached by some foreign stock exchanges including London, Hong Kong and Singapore, which expressed their interest in our stock,”  Nguyen Thi Phuong Thao, VietJet’s founder and chief executive officer, said in an interview in Hanoi on Sunday, adding that she will meet exchange officials in New York later this week.

The plan for the low-cost carrier comes amid the government’s easing of rules to allow more foreign investment in one of the fastest-growing aviation markets. Hanoi-based VietJet, known for a marketing stunt featuring bikini-clad service crew, received shareholder approval in April to boost its foreign ownership limit to 49 percent from 30 percent.

The increase will need to be approved by Prime Minister Nguyen Xuan Phuc because aviation is considered a restricted industry, with foreign ownership currently capped at 30 percent.

The stock has surged 50 percent since it started trading three months ago, compared with the 5.5 percent in the Bloomberg Asia Pacific Airlines Index.

“We don’t want to hide our hope to become the first Vietnamese company to list shares overseas,” the billionaire said.

Bloomberg

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.