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The Hanoi Stock Exchange (HNX) has announced the auction results of nearly 6.4 million shares of GTD, representing 68.77% of the charter capital of Thuong Dinh Shoe Joint Stock Company, owned by the Hanoi People’s Committee. The auction, held on December 16, attracted significant market interest, with 15 domestic individual investors registering to participate. The total bidding volume reached nearly 39.3 million shares, over six times the number of shares offered.
Two investors successfully won the entire lot of shares at an average winning price of 215,999 VND per share. This price is more than 10.5 times the starting price of 20,500 VND per share, bringing the total value of the shares to over 1,379 billion VND.
The divestment of state capital from Thuong Dinh Shoe was a key task for 2025, approved at the company’s annual shareholders’ meeting. The leadership had repeatedly warned of potential capital loss if the divestment process was prolonged.
Following the auction announcement, GTD shares on the UPCoM market reacted strongly. From November 19 to December 4, the stock recorded 12 consecutive ceiling sessions. After a brief correction, it resumed its upward trend from December 11. In the three sessions leading up to December 19, the stock closed at the ceiling price, and on the morning of December 19, it continued to surge, reaching a historic high of 109,400 VND per share.
This price propelled Thuong Dinh Shoe’s market capitalization past the 1,000 billion VND mark, a ninefold increase in just one month. Liquidity during this period improved significantly, averaging nearly 16,000 shares per session, over seven times the annual average.
| GTD Stock Price Movement Since 2025 |
Despite GTD shares reaching new highs, the ceiling price on December 19 was only half the average winning auction price of 215,999 VND per share. This means the two winning investors are currently facing a 50% paper loss compared to the UPCoM market price.
In response to the sharp price fluctuations, Thuong Dinh Shoe has issued multiple clarifications, emphasizing that the stock’s surge reflects market supply and demand dynamics. The company’s production and business operations remain stable, with no unusual financial changes.
Miliket Follows a Similar Pattern
Another iconic Vietnamese brand, Miliket’s “Hai con tôm” instant noodles, experienced a similar scenario during its state capital divestment process.
On December 18, a lot of 960,000 shares, representing 20% of the charter capital of Colusa – Miliket Foodstuff Joint Stock Company, owned by Vietnam National Tobacco Corporation (Vinataba), was auctioned. Four domestic institutional investors participated, with total bids four times the offered volume.
One domestic institution won the entire lot at a total value of over 206.1 billion VND, averaging 214,697 VND per share—80% higher than the starting price of 119,500 VND per share.
On December 19, CMN shares on the UPCoM market rose nearly 3% to 91,000 VND per share, a historic high. However, this price is 58% lower than the average auction price, resulting in a temporary loss for the winning investor compared to the market price.
Following the auction announcement, CMN entered a hot streak, with three consecutive ceiling sessions starting November 20. By December 19, the stock had surged over 65% in one month. Average liquidity also improved significantly, reaching nearly 24,000 shares per session, almost ten times the previous year’s average.
| CMN Stock Price Movement Since 2025 |
– 10:17 19/12/2025
“Stock Soars 600% in One Month, Exit Value Surges 10x Above Opening Price”
The opening price was set at 20,500 VND per share, but by the end of the auction, the winning bid soared to an astonishing 216,000 VND per share—over 10 times the initial offering price.
Hanoi Successfully Auctions Thuong Dinh Shoe Company Shares, Raising Over VND 1.379 Trillion
The Hanoi People’s Committee has successfully concluded the auction of nearly 6.4 million shares of Giầy Thượng Đình, achieving an average price of 215,999 VND per share. This transaction is estimated to generate over 1,379 billion VND in revenue.
Two Investors Secure 69% Stake in Giầy Thượng Đình, Paying Ten Times the Starting Price
At this price point, the Hanoi People’s Committee anticipates generating approximately VND 1.379 trillion from divesting its stake in Thuong Dinh Shoe Company.
No Bidders Registered for Saigon Port Share Auction!
Vietinbank’s auction of over 19.6 million Saigon Port shares, with a starting price of VND 29,208 per share, was canceled due to a lack of investor participation.
Hanoi City Secures Nearly VND 1.4 Trillion from Capital Withdrawal, Winning Bid 10 Times Higher Than Starting Price for 3.6-Hectare Nguyen Trai Road Land Plot
With this outcome, the Hanoi People’s Committee anticipates generating approximately VND 1,379 billion from the capital divestment. The payment deadline for purchasing shares is set from December 16 to 22, 2025.
