Bamboo Airways is preparing for a U.S. public listing in the third quarter, planning to offer a 5%-7% stake. The airline is aiming to raise $200 million from investors, said chairman Trinh Van Quyet, which will potentially secure a market capitalization of up to $4 billion on the New York Stock Exchange.
Initially, the airline announced its plans in March 2021, to list 105 million shares on either the Ho Chi Minh Stock Exchange or Hanoi Stock Exchange at a share price of VND60,000 ($2.61). This has since changed and will be considered a “backup plan” depending on market conditions.
The listing serves as part of the carrier’s efforts to expand its international operations. With 60 domestic routes, the carrier plans to expand its fleet to 40 aircraft up from 22 and launch new routes to Australia, Germany, Japan, and the U.K.