Vietnam’s startup Bamboo Airways aims to list its shares on a local stock exchange in Q3 and raise its domestic market share from 20% to 30%.

According to Reuters, the airline plans to offer 105 million shares on either The Ho Chi Minh City Stock Exchange (HOSE) or the Hanoi Stock Exchange (HNX). The initial price is going to be 60,000 dong ($2.60) per share. If the company realizes its full financial potential with this plan, it will raise an equivalent of $2.73 billion in Vietnamese dong.

“Market conditions are ripe for the (listing) plan,” Bamboo Airways chairman Trinh Van Quyet said.

According to Quyet, Bamboo Airways, which had its pre-tax profit of 400 billion dong in 2020, intends to expand its fleet from 28 to 40 by the end of this year.

“We hope the government will prudently reopen international commercial flights from the end of the second quarter or early third as the domestic outbreak has been effectively contained,” the chairman added.