AsemconnectVietnam - Shares in VietJet Aviation VJC.HM, Vietnam's biggest private airline, jumped by the maximum 20 percent limit on its debut on Tuesday to hit 108,000 dong ($4.74), valuing the fast-growing group at over $1.4 billion.

 The budget airline's stock had listed at a starting price of 90,000 dong per share. A combined 103 shares were traded by 0233GMT, the data showed.

Vietnam, slowly opening up its domestic market amid considerable investment interest, has completed several major share sales and listings in recent months, including a $3.72 billion listing of its top brewer Sabeco  SAB.HM in which the government owns nearly 90 percent.

The stock market debut of VietJet comes after a market debut of its public sector rival Vietnam Airlines  HVN.HNO in January. That stock surged 40 percent on its debut on the Unlisted Public Company Market  0#.UPCOMI, valuing the firm at $2.1 billion.

The interest in Vietnam's airline listings has been driven by the pace of growth in the domestic airline market, one of the fastest in Asia Pacific.

VietJet currently operates about 60 routes both locally and internationally, and expects to have a fleet of 200 aircraft by 2023.

The CAPA Centre for Aviation has said that VietJet, which currently commands 40 percent of Vietnam's domestic market, will likely surpass Vietnam Airlines this year to become the country's biggest domestic carrier.

The bourse allows the stock price to move a maximum of 20 percent up or down from the starting price on its debut day. ($1 = 22,777.0000 dong)

Source: Reuters.com