After the first unsuccessful share auctions, Danang and Can Tho ports have launched their second auctions with the former’s offered shares sold out but and no investor was interested in shares of the latter.

The Hanoi Stock Exchange announced that investors bought all the 13.22 million shares of Danang Port at an auction on Monday at an average price of VND15,677 per share compared to the starting price of VND12,000. The total value of the shares sold was over VND207 billion.

Three institutional and 120 individual investors registered to buy shares of Danang Port, but only five individual investors purchased all the shares.

Earlier, Vietnam National Shipping Lines extended the auction registration deadline so that investors would have more time to explore the port. Therefore, the auction took place on Monday instead of January 19 as earlier scheduled.

While Danang Port found investors, Can Tho Port failed to attract buyers of 13.68 million shares it planned to auction on January 29, and thus had to cancel the auction.

Late last year, Can Tho Port offered 13.6 million shares for sale at a price starting from VND10,000 each. There were 16 investors at the auction but only 27,200 shares, a mere 0.2% of the total, found buyers.

According to investors, though Can Tho Port lies in the middle of the Mekong Delta region, its development potential is limited.

The delta region has the largest volume of seafood and farm produce but exporters must have these products transported to ports in HCMC or Ba Ria-Vung Tau as Can Tho Port cannot accommodate big vessels. 

Besides, investors are not much interested in owning stakes of Can Tho Port as some terminals for coal used by thermal power plants are underway in the region.