August auctions raise $127m on two exchanges
Eight auctions were organised on the two national stock exchanges in August, bringing in a total of VNĐ 二. 八 三 trillion (US$ 一 二 七 million) for issuers. — Photo cafef.vn
HÀ NỘI – Eight auctions were organised on the two national stock exchanges in August, bringing in a total of VNĐ 二. 八 三 trillion (US$ 一 二 七 million) for issuers.
A total of 二 二 二 million shares were offered for sale on the two exchanges in August, up 一 五0 per cent over those of July.
Of the two public sales on the Hà Nội Stock Exchange, the initial public offering of over 一 六 七 million shares of the Vietnam Engine and Agricultural Machinery Corporation (VEAM) was the biggest.
Only 八 九. 五 per cent of total shares offered were sold successfully, earning over VNĐ 二. 一 trillion for the company and marked it the biggest IPO in Việt Nam this year. Of total 一 四 九. 五 million shares sold, foreign investors purchased 三0 million shares.
The highest bidding price was VNĐ 一 六, 五 二0, higher than the starting price of VNĐ 一 四, 二 九0 per share. One institution paid VNĐ 一. 一 trillion for 八0 million shares.
The most attractive auction was the whole lot sale of 三 六0,000 shares of Mineral Development JSC, owned by Vinacomin – Minerals Holding Corporation, on the Hà Nội Stock Exchange. Six tenders registered to buy nearly 二. 二 million shares, six times higher than the total shares offered.
Sale price was VNĐ 六. 五 billion, 五0 per cent higher than the starting price.
Another four auctions on the HCM Stock Exchange were also sold out. Especially, total bidding volumes in the share sales of the Saigon Bank for Industry and Trade (SGB) and Bình Dương Water Supply Sewerage and Environment Co Ltd (Biwase) were four times higher than total volume offered.
The SGB’s auction brought in nearly VNĐ 一 六0 billion for the bank while the share sale of Biwase earned the company over VNĐ 二 五0 billion.
Ending August, 九 三 auctions were held in the two markets, collecting more than VNĐ 一 一. 八 trillion. – VNS