GTD Stock Surges to Upper Limit for Three Consecutive Sessions Following Hanoi’s Capital Withdrawal Announcement

Specifically, by the close of the session on November 21, the share price of GTD (Thuong Dinh Shoe Joint Stock Company) stood at VND 17,300 per share, marking a ceiling increase of 14.57% compared to the previous session.

The significant surge in Thuong Dinh Shoe’s stock price followed the announcement that the Hanoi People’s Committee has registered to auction off its entire 6.38 million shares in the company, representing 68.67% of the charter capital.

The starting price has been set at VND 20,500 per share. If the auction is successful, the Hanoi People’s Committee is expected to generate VND 130.9 billion in revenue.

The auction is scheduled for the morning of December 16. Eligible participants include domestic and foreign economic organizations, social organizations, and individuals.

Prior to this, the stock had recorded two consecutive ceiling increases: a 14.41% rise on November 19 and a 14.39% increase on November 20.

Thus, after three consecutive ceiling sessions, the market price of GTD shares has risen by nearly 46.6%, equivalent to an increase of VND 5,500 per share.

According to the 2024 audited financial report, Thuong Dinh Shoe recorded net revenue of nearly VND 79 billion, a slight 2% decrease compared to 2023. However, the company still reported a net loss of nearly VND 13 billion, 2.6 times higher than the previous year’s loss. By the end of 2024, accumulated losses had exceeded VND 67 billion.

As of December 31, 2024, Thuong Dinh Shoe’s total assets amounted to over VND 120 billion, a 5% decrease from the beginning of the year. Tangible fixed assets accounted for nearly 43%, with inventory at VND 38 billion, equivalent to 31.5% of total assets. Conversely, the company’s total liabilities stood at VND 94 billion, a 7% increase from the start of the year, including loans and financial lease debts of nearly VND 29 billion.

A notable asset of Thuong Dinh Shoe is its prime land at 277 Nguyen Trai, which has served as the company’s headquarters and factory for over half a century. Spanning over 3.6 hectares, the land boasts a large frontage on Nguyen Trai Street and is listed among the industrial facilities to be relocated from the inner city as per Hanoi’s urban planning policy.

According to the approved plan, this land will be developed into the Thuong Dinh complex, featuring commercial housing, offices, retail services, and a multi-level school, with Thuong Dinh Shoe as the primary investor. The total investment is estimated at VND 1,600 billion, with completion targeted for 2030 following the factory’s relocation.