HNX auctions US$471 million in shares in seven months

August 04, 2018 | 09:04

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The total value of shares auctioned by the Ha Noi Stock Exchange (HNX) since the beginning of 2018 has reached VND10.6 trillion (US$471 million), according to the northern stock bourse regulator.

hnx auctions us 471 million in shares in seven months

The front side of the Ha Noi Stock Exchange building. - Photo ndh.vn

The HNX has organised 23 auctions in the first seven months of the year, including seven initial public offerings (IPOs) and 15 trading sessions that aimed at selling the State’s capital in State-owned enterprises (SOEs).

The total amount of shares offered for sale in those auctions was more than one billion shares. Six hundred and sixty million shares were sold, equal to 64 per cent of the total amount of shares offered for sale.

In July, the HNX held two auctions. One of them was the IPO of the Duyen Hai Quang Ninh Co Ltd, the other one was the State capital divestment of the Nghe An Province’s People’s Committee from Nghe An Water JSC.

The HNX offered more than 11 million shares in those two auctions. Investors bid for 39.6 million shares – nearly four-fold the amount of initially-offered shares.

The two companies in those auctions successfully sold out all shares offered for sale, receiving more than VND182 billion – triple the minimum amount of money they had expected to receive.

VNA

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