Seaprodex stock auction fails for second time

The Hanoi Stock Exchange (HNX) announced that the auction for nearly 80 million shares of Vietnam Seaprodex (SEA) will not take place on November 2. This marks the second failed attempt to auction the shares due to a lack of participating investors.

The shares, owned by the State Capital Investment Corporation (SCIC), had a starting price of over 8,500 billion VND, averaging approximately 107,400 VND per share. The auction failed to meet the necessary conditions after no investors registered or placed deposits by the October 26 deadline.

Seaprodex is currently held by SCIC with a 63.38% stake, while Ngân Hiệp Real Estate JSC and Redwood Investment JSC hold 24.03% and 8.44% respectively. A significant asset of the company is its 1,522 square meter land plot located at the intersection of Dong Khoi and Ton Duc Thang streets.