Over 1,000 investors join Viglacera share auction

Hanoi (VNA) – The Vietnam Glass and Ceramics for Construction Corporation (Viglacera) put up 120 million shares for sale on May 29, attracting 1,026 investors, the highest number recorded at an auction in Vietnam since 2012.  

The shares had an initial price of 12,300 VND each, with the highest bid hitting 17,300 VND.

Bidders registered to buy more than 314.3 million shares, 2.62 times higher than the total volume offered.

The auction ended with all shares being sold out for 37 organisations and 13 individuals. Foreign investors acquired more than 109 million shares.

The shares were sold at an average price of 16,175 VND each, earning over 1.94 trillion VND (85.36 million USD) in total.

Viglacera, coded VGC, is listed on the Hanoi Stock Exchange (HNX).

The company holds 40 percent of the market share of building glass, 12 percent of sanitary ware, 5 percent of ceramic tiles and 3 percent of bricks, according to a report by the Bao Viet Securities Joint Stock Company.

Viglacera reported its profits of 242 billion VND (10.7 million USD) in the first quarter of this year, surpassing its quarterly target by 69 percent.-VNA