On December 3, 2025, Thuong Dinh Shoe Joint Stock Company (stock code: GTD) submitted an explanatory document to the State Securities Commission and the Hanoi Stock Exchange regarding the consecutive ceiling price increase of GTD shares over five sessions from November 26, 2025, to December 2, 2025.
The company’s leadership confirmed that its production and business operations remain normal, with no unusual fluctuations observed.
Thuong Dinh Shoe stated that the share price increase is an objective market dynamic driven by supply and demand, and the company commits to not influencing the trading price in any way.
Previously, Thuong Dinh Shoe had submitted a similar explanation for the consecutive ceiling price increase of GTD shares over five sessions from November 19 to November 25.
By the end of the December 3 trading session, GTD shares reached their 11th consecutive ceiling price at 52,200 VND per share, a 342% increase compared to November 18.
The continuous ceiling price surge followed the Hanoi Stock Exchange’s (HNX) announcement of an auction for over 6.3 million shares of Thuong Dinh Shoe, owned by the Hanoi People’s Committee. This represents the Committee’s entire stake in the company, equivalent to nearly 69% of its charter capital. The successful bidder will gain controlling interest in Thuong Dinh Shoe.
The starting price is set at 20,500 VND per share. If all shares are successfully auctioned, the Hanoi People’s Committee could raise at least 131 billion VND.
The auction is scheduled for the morning of December 16, 2025, and is open to domestic and international economic organizations, social organizations, and individuals.
With over 60 years of history, Thuong Dinh Shoe currently exports to the EU, Australia, and several Asian countries. However, over the past five years, the influx of global brands like Adidas, Puma, and Nike has intensified competition, significantly marginalizing Thuong Dinh Shoe in the domestic market.
One notable asset of Thuong Dinh Shoe is its 36,105 m² land plot at 277 Nguyen Trai, Hanoi. This prime location, with extensive frontage along Nguyen Trai Street, is earmarked for relocation under Hanoi’s urban planning policy.
According to approved plans, the site will be redeveloped into the Thuong Dinh Commercial-Office-Service-School Complex, with Thuong Dinh Shoe as the primary investor. The total investment is estimated at 1.6 trillion VND, targeting completion by 2030 following the factory’s relocation.
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