Three private investors have bought 1.9 million shares of Thuong Dinh Footwear Company during an initial public offering at the Ha Noi Stock Exchange (HNX) on June 8. — Photo hanoimoi

HA NOI (Biz Hub) — Three private investors have bought 1.9 million shares of Thuong Dinh Footwear Company during an initial public offering at the Ha Noi Stock Exchange (HNX) on June 8.

The shares were sold at an average price of VND48,177 (US$2.2) each, nearly five times higher than the offering price, reaching close to VND91.7 billion ($4.2 million).

The auction attracted the participation of 32 investors who had earlier registered to buy more than 22.1 million shares, 11.5 times higher than the volume of company shares offered on auction.

As part of the company's equitisation plan, the State will own 3.3 million shares, while its workers are allowed to buy more than 2.1 million shares, or 36 per cent and 23.5 per cent of chartered capital, respectively.

The remainder of 1.8 million shares, or 20 per cent of chartered capital, will be sold to strategic investors. — VNS