VietJet seeks first overseas listing by Vietnamese company

VietJet Aviation 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,” said Nguyen Thi Phuong Thao, VietJet’s founder and CEO. Thao said she will meet exchange officials in New York later this week. The plan for the 41t dong (US$1.8b) 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%. “Listing overseas on big markets will help increase our access to more fund sources, boost the trading of our stock and expand the list of our investors,” said Thao, a self-made billionaire. “We don’t want to hide our hope to become the first Vietnamese company to list shares overseas.”<br/>