Viet Nam's Bamboo Airways to list in Hanoi and US in 2022

Bamboo Airways is working on a plan to list on the Unlisted Public Company Market on the Hanoi Stock Exchange from Q1 2022 while also preparing for an IPO in the US in 2022, its deputy CE Nguyễn Khắc Hải confirmed in a statement posted on its website on the evening of November 19. The expected listing price for the ticker code BAV "will not be lower" than VND60,000 dong (USD2.64), he said. The statement follows reports in April that the airline's billionaire chairman and owner, Trịnh Văn Quyết, had been considering an IPO in the US in Q3 of this year in an effort to raise up to US$200m. UPCoM is a mezzanine exchange that encourages unlisted firms to list with the option of later transferring onto the main market. According to the business intelligence firm Oxford Business Group, investors using it are protected by a legal and regulatory framework and the exchange has high standards of transparency and data accessibility. According to Nguyễn, the airline is "rushing to prepare and complete in parallel a dossier to offer BAV shares on the New York Stock Exchange in 2022." He reiterated the target of raising US$200m through the issuance of 5-7% of shares in New York, "thereby increasing its market capitalisation to US$4b."<br/>