Hanoi’s People’s Committee Wants to Divest Shares, Formerly Renowned Shoe Company Shares Fluctuate

The shares of GTD from Thượng Đình Footwear Co. have surged to 17,300 VND/share, reflecting a 47% increase in just three trading sessions. This spike follows the announcement from Hanoi’s People’s Committee about the auction of 6.3 million shares, which represent 68.67% of the company, starting at 20,500 VND/share. Thượng Đình, established in 1957 and listed in 2015, faces market challenges as competition from international brands intensifies. The company’s revenue has slightly declined, reporting a loss of nearly 13 billion VND for 2024. To sustain operations it needs to improve its financial standing. The company’s land area of 36,105 m² in Hanoi is slated for development into a commercial and residential complex with an investment of 1.6 trillion VND, aimed for completion by 2030.