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Vietnam Airlines seeks IPO approval

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Vietnam Airlines, the national carrier, said it expects to get approval in June for the number of shares to be sold at an initial public offering as the government speeds share sales to win overseas investors. 

''The airline will offer a suitable stake based on market demand,'' chief executive officer Pham Ngoc Minh said in an emailed response to questions. The carrier has been valued at US$2.74 billion (89 billion baht), according to the Saigon Times newspaper.

The reported figure was included in a report Vietnam Airlines submitted to Prime Minister Nguyen Tan Dung and the transport ministry, he said. Approval for the valuation and the stake to be offered in the IPO, planned for September, will be given by Dung, he said.

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