The Hanoi Stock Exchanges (HNX) said stakes put on auction in the bourse were in heavy demand in February with the total buy orders almost doubling those available for sale.

HNX-listed stakes in heavy demand in Feb. (Photo: Vietnam Finance)

In some auctions, the number of shares ordered was even five times higher than those on sale.

Last month, five companies put up a total of more than 43 million shares on auction, which were Vikor Steel JSC, Vinacomin Shipping Agency JSC, SeaBank, Hapulico Real Estate Investment JSC, and Hoa Binh clean water JSC.

Over 91 percent of the volume, or 39.4 million stakes, were sold to investors for 470.9 billion VND (20.86 million USD), 46.2 billion VND (2.04 million USD) higher than the starting price.

SeaBank successfully sold all the available 33.4 million shares to six organisations and 42 individuals for about 333 billion VND (14.75 million USD).

Hoa Binh clean water JSC enjoyed great attention from investors with the number of shares in demand being 4.8-fold higher than the offers. 

All 1.6 million shares were sold out to raise over 53 billion VND (2.35 million USD) with the average bid price nearly three times higher than the starting price.-VNA