The bull statue at the headquarters of the Hanoi Stock Exchange (Photo: vietnamnfinance.vn) Hanoi (VNS/VNA) — A total of 42.3 million State shares sold from January-October fetched nearly 1.04 trillion VND (44.75 million USD), according to the Hanoi Stock Exchange (HNX).
The northern market regulator organised 11 auctions to offload the shares. The successful bidding value was 22 percent higher than the value offered for sale.
In October alone, the HNX held one auction to help the State-owned power group Vietnam Electricity (EVN) sell its stake in EV Finance Co (EVF).
EVN offered 2.65 million shares for sale that sold out for 46 billion VND.
The amount and value of shares sold in the 10-month period was a big disappointment as the State was trying to exit non-core companies.
Due to the COVID-19 pandemic, purchasing power from investors has declined this year making it hard for the State to complete its divestment plans for 2020.
In November, the State plans to sell its ownership in five State-owned enterprises including Vietnam Vegetable Oils Industry Corporation (Vocarimex), Viettel Post Joint Stock Corporation, and Vietnam Agriculture Tourism JSC (Agritour)./.
