HNX raises over 115 mln USD in sold-out auctions of SOE stakes
Some 28 of 34 auctions conducted by the Hanoi Stock Exchange (HNX) in 2017 sold out shares offered by state-owned enterprises (SOEs), raising over 2.63 trillion VND (115.72 million USD) for the State.
Investors watch stock movements in the Vietcombank Securities Company. (Photo: VNA)
Hanoi(VNA) – Some 28 of 34 auctions conducted by the Hanoi Stock Exchange (HNX) in2017 sold out shares offered by state-owned enterprises (SOEs), raising over2.63 trillion VND (115.72 million USD) for the State.
According the HNX,the volume earned the State about 933 billion VND (41.05 million USD) in sharepremium and more than 30 percent of the sold-out auctions had the bid prices1.5 – 2.5 times higher than the starting prices.
The total volume of SOEshares offloaded in HNX was estimated at about 321 million in 2017.
It was the thirdyear SOE stocks have been offloaded in the HNX. While 2015 saw the boom ininitial public offerings (IPOs) of SOEs with 64 SOEs offering shares to thepublic for the first time, representing 71 percent of the total auctions inHNX, public auctions for SOE share offloading accounted for 71 percent lastyear.
The most attractiveauctions were sales of shares in the Vietnam Oil and Gas Group (PVN), theVietnam Posts and Telecommunications Group (VNPT), the Vietnam NationalShipping Lines (Vinalines), and Song Da Corporation.
The HNX also conductedthree IPOs for Viglacera Corporation – JSC, Cam Ranh International AirportServices JSC and Apax Holdings which sold a total of more than 138 millionstakes for over 2.28 trillion VND (100.36 million USD).
The exchange plansto organise 15 auctions to offload 559 million SOE shares in January.-VNA
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Investors watch stock movements in the Vietcombank Securities Company. (Photo: VNA) 
