The new budget carrier Bamboo Airways plans to list 400 million shares on Ho Chi Minh City Stock Exchange or Hanoi Stock Exchange in January 2020 at the earliest.

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The starting price is estimated at 50,000 – 60,000 VND (2.59 USD) per share, said Deputy General Director Nguyen Khac Hai.

The carrier’s chairman Trinh Van Quyet told Bloomberg that Bamboo Airways expects to collect 100 million USD from initial public offering (IPO), raising the total chartered capital to nearly 4 trillion VND.

The airline will take the delivery of additional five aircraft in October 2019, towards having a fleet of 25 airplanes later this year and 30 next year.

Earlier, Quyet said Bamboo Airways has set the goal of becoming the first airline in Vietnam to tap direct flights to the US by the late 2020.

The carrier now operates 26 domestic and international routes to Japan, the Republic of Korea (RoK) and China.

This year, it will continue expanding 37 – 40 routes, including those to the RoK, Taiwan (China) and Southeast Asia.