Last updated: 16:34 - November 4, 2006
Stock auctions attract investors http://www.nhandan.com.vn/english/business/041106/business_s.htm
[Investors at a stock auction.]
Recent transaction at the Hanoi Securities Trading Centre have created a buzz of excitement, completely contrary to the quiet at the Ho Chi Minh City Centre, due to the attractive stocks which are about to be listed. While hesitating to invest in securities at the Ho Chi Minh City STC, investors are ready to pour big sums into auctions at the Hanoi STC with new stocks and securities.
Since early October, the Hanoi floor has organised nine auctions with a total trade volume of over VND 1.66 trillion (US $104 million). About 5,220 investors, with nearly 97% of them being individuals, took part at these auctions.
Nguyen Vu Quang Trung, Deputy Director of the Hanoi STC, said there was a great number of investors interested in auctions of debutant securities. The total value of auctioned stocks in October alone represented 40% of the total volume of auctions organised so far this year. An additional five companies specialising in stock auction organisation are expected to join the market in November.
The reality showed that securities, after listing at the Hanoi and Ho Chi Minh City STCs, were sold at prices much higher than the initial prices due to their potential benefits. (VNA)
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