Low-cost Vietnamese carrier Vietjet has completed its public listing and officially become a fully-listed entity on the Ho Chi Minh City Stock Exchange (HOSE), the bourse announced on Tuesday.

The first airline in Vietnam to be listed on HOSE, Vietjet has a charter capital of VND3 trillion, or VND90,000 per share, meaning the carrier’s capitalization would stand at VND27 trillion, or equivalent to US$1.2 billion.

This accounts for 1.5 percent of HOSE's capitalization as of February 15, 2017, Vietjet said in a statement on Tuesday.

The no-frills airline will now join the ranks of ‘VN30,’ Vietnam’s biggest publicly-traded companies in terms of market capitalization.

As a direct result of being hosted on HOSE, Vietjet will contribute positively to raise market capitalization, offering immediate opportunities for local and foreign investors, the carrier said.

Vietjet is the first Vietnamese firm to have completed an IPO that meets international standards and practices (Reg S).

BNP Paribas, Deutsche Bank, JP Morgan are the IPO's foreign joint global consultants.

Twenty-four international investors subscribed to Vietjet's offering, including Singapore sovereign fund GIC, Wellington, Morgan Stanley, Dragon Capital, VinaCapital, and many more, according to the carrier.

Huong Duong Sunny Co. Ltd. is the biggest shareholder, owning a 23.24 percent stake in the airline, whereas CEO Nguyen Thi Phuong Thao and GIC possesses a 9.42 percent and 5.48 percent stake, respectively.

Vietjet's share rose to VND108,000 on the maiden trading session.

According to 2016 statistics, Vietnam’s aviation transportation market grew by 29 percent between 2012 and 2016, and the rate of customers using airplanes as their means of transportation increased from 0.5 percent in 2012 to 0.8 percent in 2016.

Vietjet, the first privately-owned commercial airline in Vietnam, had started to generate profits in its second year of operations.

Its revenue in 2016 was VND27,532 billion ($1.21 billion) with a net profit of VND2,394 billion ($105 million), with earnings per share topping VND8,762.

“Vietjet shall maintain a continuous and high growth rate and we believe that there will be a brighter future in the air for our passengers, the airline and its investors,” CEO Thao said.

During Tuesday’s session, Vietjet share (VJC) rose 20 percent to VND108,000.

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