A total of 222 million shares were offered for sale on the two exchanges in August, up 150 percent over those of July. 

Of the two public sales on the Hanoi Stock Exchange, the initial public offering of over 167 million shares of the Vietnam Engine and Agricultural Machinery Corporation (VEAM) was the biggest. 

Only 89.5 percent of total shares offered were sold successfully, earning over 2.1 trillion VND for the company and marked it the biggest IPO in Vietnam this year. Of total 149.5 million shares sold, foreign investors purchased 30 million shares. 

The highest bidding price was 16,520 VND, higher than the starting price of 14,290 VND per share. One institution paid 1.1 trillion VND for 80 million shares. 

The most attractive auction was the whole lot sale of 360,000 shares of Mineral Development JSC, owned by Vinacomin – Minerals Holding Corporation, on the Hanoi Stock Exchange. Six tenders registered to buy nearly 2.2 million shares, six times higher than the total shares offered. 

Sale price was 6.5 billion VND, 50 percent 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 Binh Duong Water Supply Sewerage and Environment Co Ltd (Biwase) were four times higher than total volume offered. 

The SGB’s auction brought in nearly 160 billion VND for the bank while the share sale of Biwase earned the company over 250 billion VND.

Ending August, 93 auctions were held in the two markets, collecting more than 11.8 trillion VND.

VNA