SCIC auction of Seaprodex majority stake

The State Capital Investment Corporation (SCIC) has announced plans to auction a 63.38% stake in the Vietnam National Seaproducts Corporation (Seaprodex). The auction of 79.228 million shares is scheduled for September 29, 2026, at the Hanoi Stock Exchange, with a starting price of approximately 8,509 billion VND (roughly 107,400 VND per share).

This starting price is noted to be 45% higher than the current market price. The auction has drawn interest due to Seaprodex’s portfolio of prime real estate in central Ho Chi Minh City, specifically the headquarters located at 2-4-6 Dong Khoi Street. Plans for the Dong Khoi site include a 20-story mixed-use complex featuring hotels, offices, apartments, and commercial spaces.

While Seaprodex has met its financial obligations regarding the land, it has not yet obtained the official land use rights certificate necessary to begin project implementation. Significant shareholders in the company include Redwood Investment JSC and Ngan Hiep Real Estate JSC, both of which have connections to Novaland Group.