The move will result in state capital at ACV to be reduced to 75.4%, for which another 10.4% is expected to be divested in 2020.
ACV to divest 20% state capital in 2018.
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Both local and foreign investors are allowed to purchase ACV's shares.
"We will hire independent consultant to determine the starting price for auctioning ACV shares," said Lai Xuan Thanh, ACV's chairman of board.
At present, the Ministry of Transport is state representative at ACV owning 2.07 million shares, equivalent to 95.4% of charter capital.
In 2017, the company's net revenue reached VND13.6 trillion (US$595.6 million), up 55% compared to the 2016 and exceeding 10% of the year target; its pre-tax profit is estimated at VND5.2 trillion (US$227.7 million) up 60% and exceeding 142% of the year target.
ACV's total assets worth VND48.7 trillion (US$2.1 billion), in which short-term assets accounted for 54% and the remaining is long-term assets. Its payable debt is posted at VND21.7 trillion (US$950.4 million), including 34% short-term debt.
With regard to financial targets, total revenue in 2018 of ACV is set at nearly VND16 trillion (US$707 million), up 7% compared to 2017, resulting in pre-tax profit of VND5.2 trillion (US$229 million), an increase of 5.3%.
In 2017, ACV has received 94.1 million passengers going through the airport, up 16% compared to 2016 and equivalent to 103% of the year's plan. In which, foreign passengers were 30.3 million, up 27%; domestic passengers were 63.8 million, an increase of 12%.
AVC currently operates 22 airports nationwide, which is expected to receive 101.8 million passengers this year; in which 34.4 million are foreign passengers and 67.4 million are domestic passengers.
ACV is one of the 3 key enterprises in airline industry, alongside Vietnam Airlines and Vietnam Air Traffic Management Corporation (VATM).
ACV is a joint stock company operating in the form of parent company - subsidiaries. The company was converted from single-member limited liability Company with 100% State-owned charter capital to a joint-stock company with 95.4% state holding shares, while other shareholders hold the remaining 4.6%.
