Baker McKenzie has assisted a group of International Banks including Deutsche Bank, JP Morgan and BNP Paribas as joint global coordinators to VietJet Aviation Joint Stock Company (VietJet Air) in its initial public offering of shares. On 28 February, Vietnam’s first privately owned new-age airline listed 300 million shares at 90,000 VND (US $3.95) per share on the Ho Chi Minh City Stock Exchange (HOSE).
VietJet Air has established its leading position in the domestic airline market since 2011 in Vietnam. Growing with Vietnam’s robust domestic and international tourism industry, the airline has accommodated more than 14 million passengers over the past two years alone, marking 51% growth in passengers and 43% growth in revenue.
Lead partner on the transaction, Nguyen HK Oanh stated:
We were delighted to act for our client on such an important capital raising in the aviation sector. Demonstrating the promise of Vietnam’s dynamic and growing private sector, VietJet Air is set to become Vietnam’s largest domestic carrier and is looking to expand across the world.
Oanh was assisted by Baker McKenzie special counsel, Dang Linh Chi.