Kim Lien Hotel auction: 274,200 VND/share

At the auction of the entire lot of 3.65 million shares of Kim Lien - Hanoi Tourism Joint Stock Company, held by the State Capital Investment and Business Corporation (SCIC), which took place on the morning of December 22nd, one investor won the bid for the lot of shares at a price of 274,200 VND per share, equivalent to paying nine times the initial offering price set by SCIC.

Investors participated in the auction.

Lasting for over an hour, the auction of the entire lot of 3,647,433 shares, equivalent to 52.43% of the capital in Kim Lien Tourism Company, unfolded amidst the breathtaking suspense of the investors watching.

According to a previous announcement by the Hanoi Stock Exchange (HNX), 36 investors participated in the auction, including 19 organizations and 17 individuals. However, only 35 out of 36 bids were valid, with a total bid volume of 127,660,155 shares, 38 times the number of shares offered.

During the auction, the electronic board constantly changed with numbers, including many buy orders entered at prices higher than 100,000 VND/share. With the highest bid reaching 274,000 VND/share - nine times the asking price, far exceeding the second highest bid of 170,000 VND/share - the winning investor would have to spend more than 1 trillion VND to own the block of shares.

It is known that the deadline for the winning investor to pay for the shares worth VND 1,000.13 billion was 4 PM on December 31, 2015.

The auction of shares in Kim Lien Tourism Joint Stock Company attracted considerable interest from investors because the company owns the right to use a prime 3.5-hectare plot of land located on Dao Duy Anh Street (Dong Da District, Hanoi).

According to Investment