The HCM and Ha Noi stock exchanges organised 32 auctions in the first half of this year, the State Securities Commission (SSC) has reported.

Of these, there were 11 initial public offerings (IPO), 20 divestment auctions of State-owned firms and one auction to issue shares to the public.

In all, 176.4 million shares worth around VND2.93 trillion (US$128.5 million) were auctioned during this period. The ratio of shares auctioned successfully was nearly 90 per cent.

In H1, the Vietnam Glass and Ceramics for Construction Corporation (code VGC) auction on the Ha Noi Stock Exchange was notable. On May 29, 120 million VGC shares were put up for sale, which attracted 1,026 investors, the highest number recorded at an auction in Viet Nam since 2012.

At the VGC auction, bidders registered to buy 314.3 million shares, 2.62 times higher than the total volume offered. The auction ended with all shares being sold to 37 organisations and 13 individuals at the highest bidding price of VND17,300 per share against the initial price of VND12,300. Foreign investors acquired around 109 million shares.

In the second half of 2017, the SSC said it would take steps to increase the supply source of the securities market and improve the quality of the source, besides continuously streamlining legal regulations and policies for the market. — VNS