VietJet seeks first overseas listing by Vietnamese company

(May 29): VietJet Aviation Joint Stock Co. is in talks to become the first company in Vietnam to list its shares on a stock exchange overseas as the carrier, which controls more than 40% of the domestic airline market, seeks more funds after plans for billions of dollars in aircraft purchases.

“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. Thao said she will meet exchange officials in New York later this week.

The plan for the 41 trillion-dong ($2.5 billion) 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% from 30%.

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