<article>Asset management firm <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/tag/vinacapital/">VinaCapital</a> has disclosed that it had invested $20.5 million in Vietnam’s first private airline <a class="tinymce-colortext" style="color: #000080;" href="http://www.dealstreetasia.com/tag/vietjet/">Vietjet</a> in its pre-IPO offering in December 2016.</article>

Asset management firm <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/tag/vinacapital/">VinaCapital</a> has disclosed that it had invested $20.5 million in Vietnam’s first private airline <a class="tinymce-colortext" style="color: #000080;" href="http://www.dealstreetasia.com/tag/vietjet/">Vietjet</a> in its pre-IPO offering in December 2016.
The budget carrier’s $170-million IPO was the biggest and first internationally marketed transaction by a Vietnamese firm. Foreign investors collectively owned a 24.4 per cent stake in Vietjet following the deal.
Shareholders include large institutions like <a class="tinymce-colortext" style="color: #000080;" href="http://www.dealstreetasia.com/tag/bnp-paribas/">BNP Paribas</a>, <a class="tinymce-colortext" style="color: #000080;" href="http://www.dealstreetasia.com/tag/deutsche-bank/">Deutsche Bank</a>, <a class="tinymce-colortext" style="color: #000080;" href="http://www.dealstreetasia.com/tag/jp-morgan/">JP Morgan</a>, Singapore’s <a class="tinymce-colortext" style="color: #000080;" href="http://www.dealstreetasia.com/tag/gic/">GIC</a>, <a class="tinymce-colortext" style="color: #000080;" href="http://www.dealstreetasia.com/tag/morgan-stanley/">Morgan Stanley</a> and VinaCapital’s <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/tag/vietnam-opportunity-fund/">Vietnam Opportunity Fund</a> (VOF).
The Singapore sovereign fund is the only overseas major shareholder Vietjet announced earlier this year.
Meanwhile, the airline company is among VOF’s top 10 holdings, representing 3.3 per cent of its NAV as of 30 June 2017. Vietnam’s biggest listed business, <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/tag/vinamilk/">Vinamilk</a>, is still the fund’s largest investment with 13.6 per cent of NAV.
Vietjet’s stock price has increased 41 per cent since its listing debut on February 28 this year.
The company launched its first commercial flight in December 2011 with a single aircraft. In its first year of operation, Vietjet achieved 8 per cent market share and grew to the 45 per cent market share by May 2017.
<a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/tag/vietnam-airlines/">Vietnam Airlines</a>, the country’s flag carrier, had its IPO in 2014 but has not been publicly listed. Its shares are currently traded on the Unlisted Public Company Market, or UPCoM.
Vietjet’s capitalisation is about $2.25 billion, while Vietnam Airlines is valued at $1.5 billion by market price.
Also read:
<a href="https://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 class="tinymce-colortext" style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/value-of-vietnams-bikini-airline-overtakes-national-carrier-66721/">Value of Vietnam’s ‘bikini airline’ Vietjet surpasses national carrier</a>

Asset management firm VinaCapital said it had invested $20.5 million in Vietnam’s first private airline Vietjet in its pre-IPO offering in December 2016.

VinaCapital invested $20.5m in budget airline Vietjet's 2016 IPO

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VinaCapital invested $20.5m in budget airline Vietjet's 2016 IPO

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