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Bamboo Airways eyes local and U.S. stock listings
November 24th 2021
Bamboo Airways (BAV) has revealed the airline is planning to list on local and U.S. stock exchanges in 2022. Read More » BAV is planning a New York listing in 2022 after debuting on Vietnam’s Unlisted Public Company Market (UPCoM) on the Hanoi Stock Exchange, according to a statement on the airline’s website. Bamboo Airways deputy director general, Nguyen Khac Hai, said the share price on UPCoM was not expected to be lower than VND60,000 (US$2.64) per share. For New York, Nguyen said, the airline had set a goal of raising US$200 million through the issue of a 5% to 7% equity in the carrier. "The offering of BAV shares in the U.S. is part of our efforts to expand our global service network,” Bamboo Airways chairman, Trinh Van Quyet, said. The carrier is operating direct charter flights to the U.S. and hopes to start scheduled flights at the end of the year. It plans to fly five services a week initially and increase the frequency to daily early in 2022. It also is scheduling direct flights from Hanoi and Ho Chi Minh City to London Heathrow from the end of this year, starting at six return flights a week and increasing to daily in 2022.
