Hoang Anh Gia Lai shares skyrocket, Mr. Duc's son spends billions to buy them

Hoang Anh Gia Lai shares have increased sharply in recent sessions and internal shareholders have spent heavily on buying.

HAG shares of Hoang Anh Gia Lai Joint Stock Company increased sharply, surpassing 17,000 VND/share. In this context, Mr. Doan Hoang Nam - son of Mr. Doan Nguyen Duc (also known as Bau Duc), Chairman of the Board of Directors of Hoang Anh Gia Lai Joint Stock Company - has just registered to buy an additional 25 million HAG shares from August 28 to September 12 to increase the ownership ratio to 4.92% of capital, equivalent to holding 52 million HAG shares.

Hoang Anh Gia Lai shares rose after the company ended its accumulated losses. Pictured is HAG's durian garden.

PHOTO: HAG

Previously, on August 22, Mr. Duc's son became a shareholder of Hoang Anh Gia Lai for the first time when he reported the successful purchase of 27 million HAG shares as registered under the agreement method, to hold 2.55% of charter capital. The transaction value was about 426 billion VND. At the same time, Mr. Duc successfully sold 25 million HAG shares, earning nearly 381 billion VND, reducing his ownership ratio to 28.84% of Hoang Anh Gia Lai's charter capital but still being the largest shareholder. Most likely, the amount of shares transferred by Mr. Duc was part of a series of purchases by his son.

Yesterday, August 25, the Board of Directors of Hoang Anh Gia Lai approved the documents for issuing shares to convert debt. According to the plan, Mr. Duc's company will issue 210 million shares at VND12,000 to convert a debt of VND2,520 billion. Creditors include Huong Viet Investment Consulting Joint Stock Company (VND720.7 billion) and 5 individuals: Nguyen Thi Dao, Pham Cong Danh, Nguyen Anh Thao, Ho Phuc Truong, Nguyen Duc Trung. After the issuance, this group will hold 16.65% of HAG shares and the shares will be restricted from transfer within 1 year.

Recently, the Ho Chi Minh City Stock Exchange (HOSE) announced that HAG shares were removed from the warning list from August 26, after nearly 3 years of being monitored due to after-tax losses in 2021. The elimination of accumulated losses helped HAG shares escape the warning list. After the first 6 months of this year, Hoang Anh Gia Lai reported a net profit of nearly VND 834 billion, up 74% over the same period last year and recorded an accumulated profit of nearly VND 400 billion as of June 30. The company has achieved 58% of its annual profit target, expected to be adjusted up to VND 1,500 billion. This result also helps the company end the previous prolonged accumulated loss situation.

Source: https://thanhnien.vn/co-phieu-hoang-anh-gia-lai-tang-vot-con-trai-bau-duc-chi-tien-ti-gom-vao-185250826111044991.htm