Auctions of company shares more exciting

09:55 | 30/07/2015 Economy

(VEN) - According to the Hanoi Stock Exchange (HNX), 21 share sales were implemented in the second quarter of this year with 61 million shares sold valued at VND1.281 trillion, an increase of 7.3 percent compared to a year ago.

Auctions of company shares more exciting

Trang Thi Trade & Service Joint Stock Company’s initial public offering

An auction of the State Capital Investment Corporation’s shares at the Machine and Technology Joint Stock Company ended a vibrant June, with nine initial public offerings and three sessions to sell stakes. 75 percent of total number of companies sold all their shares on offer in June, an increase of 50 percent compared to May and total value of sold shares via the HNX reached more than VND716.5 billion.

The HNX saw 21 auctions of 421.9 million shares in the second quarter. Some auctions attracted a large number of investors such as the Bac Giang Water Supply and Sewerage One Member Limited Company’s auction with 268 investors, the Vinacomin-Power Holding Corporation’s auction with 259 investors and the Vinacomin-Minerals Holding Corporation’s auction with 132 investors. Together with close guidelines of the government in promoting equitization of state-owned enterprises and corporations, the second quarter also recorded four corporations that held auctions on the HNX.

Three corporations selling a large volume of shares in the second quarter consisted of the Vinacomin-Power Holding Corporation, the Vinacomin-Minerals Holding Corporation and the Vinacomin-Viet Bac Mining Industry Corporation. In particular, in auctions of the Hanoi Book and Trading One Member Limited Liability Company, the Thuong Dinh Shoe One Member Co., Ltd. and the Trang Thi Trade & Service Joint Stock Company’s shares, the volume of registered shares was 4, 12 and 14-fold increases compared to offered shares.

Many investors were willing to pay higher for their expected shares. For example, in the Trang Thi Trade & Service Joint Stock Company’s share auction, investors fixed a price at VND82,000 a share, a 8.2-fold increase compared to the offered price.

Lan Ngoc