Starting in 2005, share auction in HNX has seen remarkable development and notable achievements, contributing to the enterprise structuring and renovation policy directed by the Party and the State, and attracting the interest of the people. Share auction has facilitated the equitization the wholly State-owned enterprises into joint stock companies.
Year 2007 marked a milestone in share auction activity in HNX when the auction was changed from one-tier model to two-tier model. Accordingly, HNX is the auction organizer, while securities companies receive registration forms, deposits, check the settlement progress of investors and report to the HNX. This model change has bettered the auction activity, minimizing time for related parties.
HNX always pays attention to adjusting administrative procedures to meet the demands of enterprise in the auction, advisory organizations, auction agencies, and investors and to ensure the efficiency. The upgrading of the auction system is also undertaken for the transparency of the activity. Auction information is published on newspapers, HNX and agencies' websites and directly provided for investors at the HNX, auction agencies and enterprises. Bid orders are put into the system and after automatic calculation thanks to computer algorithms, auction results are created for each investor. For over 7 years, the HNX has successfully organized hundreds of auctions, especially big auctions.
In the development of the country, the equitization of State-owned enterprises has been proved judicious, and HNX believes in the success of auctions in the future.