<article>Shares of <a style="color: #000080;" href="http://www.dealstreetasia.com/tag/vietjet/">Vietjet</a>, Vietnam’s first private airline, soared 20 per cent to hit the debut price limit on the Ho Chi Minh City Stock Exchange on February 28, to reach VND108,000 ($4.7) apiece.</article>

Shares of <a style="color: #000080;" href="http://www.dealstreetasia.com/tag/vietjet/">Vietjet</a>, Vietnam’s first private airline, soared 20 per cent to hit the debut price limit on the Ho Chi Minh City Stock Exchange on February 28, to reach VND108,000 ($4.7) apiece.
Over 12,000 shares changed hands, while the company’s total outstanding shares are 300 million units.
The budget carrier had earlier planned the listing at the reference price of VND90,000, which valued Vietjet at some $1.2 billion.
The increasing limit for listed stocks in the debut trading day is 20 per cent, allowing Vietjet shares, coded VJC, to approach the price level of the top 10 highest stocks in price. The most expensive stock is of state-owned brewer <a style="color: #000080;" href="http://www.dealstreetasia.com/tag/sabeco/">Sabeco</a> (VND225,100), while the 10th highest is pharmaceutical company Traphaco at VND115,000.
Vietjet is also the first airline to publicly list, while <a style="color: #000080;" href="http://www.dealstreetasia.com/tag/vietnam-airlines/">Vietnam Airlines</a>, which was privatised in 2015 and sold an 8.8 per cent strategic stake to ANA Holdings last year, is currently traded on the Unlisted Public Company Market (UPCoM).
Vietnam Airlines stock had also reached the &#8220;ceiling price&#8221;, which is the daily trading limit, for its first few days before tumbling nearly 30 per cent until present.
Following the February 28 debut, Vietjet has joined the ranks of stocks under the VN30 Index, which comprises of the 30 largest listed companies by market capitalisation, the carrier said in a statement.
The firm finished selling a 24.4 per cent stake to foreign investors during its IPO in late 2016. Buyers include BNP Paribas, Wellington Fund, Deutsche Bank, Morgan Stanley, JP Morgan, VinaCapital, Dragon Capital, and GIC – the sole foreign major shareholder in the company.
The $170 million IPO is Vietnam’s biggest and first international marketed initial offer, according to Vietjet’s US-based advisory, MilBank.
Vietjet reported profits from the second year of operation, the company added. Its last fiscal profit was $105 million.
The aviation industry in Vietnam has been witnessing impressive growth of 29 per cent between 2012 and 2016. Nguyen Thi Phuong Thao, chairwoman and CEO of Vietjet, commented: “Vietjet shall maintain a continuous and high growth rate and we believe that there will be a brighter future in the air for our passengers, the airline and its investors.”
It had been earlier marketed that Thao would become the first female billionaire after Vietjet&#8217;s listing. The carrier had planned an overseas IPO but changed its mind to test the local appetite first. Vietjet is looking to resume the international listing ambition.
Also read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/vietjets-170m-ipo-is-vietnams-biggest-and-first-internationally-marketed-65602/">Vietjet’s $170m IPO is Vietnam’s biggest, first globally marketed offer</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/vietjet-sets-1-2-billion-listing-on-feb-28-gic-is-large-shareholder-64716/">Vietjet $1.2b listing set for Feb 28, GIC is large shareholder</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/62435-62435/">VietJet reconsiders international IPO, forecasts 30% profit ahead of listing in Vietnam</a>

Vietnam: Vietjet shares surge 20%, ranks among top listed stocks

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Vietnam: Vietjet shares surge 20%, ranks among top listed stocks

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