LPBank Securities will buy shares of Bau Duc Company

LPBank Securities, Viet Cat Fund plan to participate in the upcoming private issuance of 1.3 million HAG shares

The information has just been sent by Hoang Anh Gia Lai Joint Stock Company (HAG) to the State Securities Commission and HoSE on the evening of November 23.

In the private offering plan of 130 million shares, the expected investors to participate include: LPBank Securities Joint Stock Company, Viet Cat Fund Management Joint Stock Company (Viet Cat Fund) and professional investor Nguyen Duc Tung Quan.

Accordingly, LPBank Securities will buy 50 million shares, equivalent to 4.73%; Viet Cat Fund will buy 60 million shares, equivalent to 5.67%; Mr. Nguyen Duc Tung Quan will buy 20 million, equivalent to 1.89%.

Mr. Doan Nguyen Duc - Chairman of the Board of Directors of Hoang Anh Gia Lai. Photo: Duc Dong

LPBank Securities was established in 2009. Currently, Lien Viet Post Bank (LPBank) is also one of the major shareholders of this company, holding 5.5% of shares.

Regarding LPBank, this bank previously signed a comprehensive cooperation agreement with HAG. On November 2, HAGL Football Club announced its name change to LPBank Hoang Anh Gia Lai Football Club. Currently, Mr. Nguyen Duc Thuy (Bau Thuy) is the Chairman of LPBank's Board of Directors.

Viet Cat Fund was established to meet the financial needs of individual and institutional investors in Vietnam and abroad by taking advantage of investment opportunities in Vietnam. The company is headquartered on the 11th floor of Doji Tower (Hanoi).

Recently, the State Bank has approved TPBank to contribute capital and purchase shares to acquire Viet Cat Fund Management Joint Stock Company with a maximum amount of VND125 billion. This bank must complete the capital contribution and share purchase within 12 months from the date of approval.

Mr. Nguyen Duc Quan Tung is one of the investors expected to participate in the previous offering of HAGL. He has never bought HAG shares.

Last September, HAG had implemented a plan to sell nearly 162 million shares at VND10,500, expecting to collect VND1,700 billion. However, due to unfavorable market developments, investors refused to buy, and the plan failed.

This time, if the private placement is successful, the total amount expected to be collected from the offering is 1,300 billion VND, used to supplement working capital for subsidiaries and pay off the group's debts.

Accordingly, Mr. Duc's company will use 323 billion VND to pay the principal and interest of bonds issued on June 18, 2012; restructure the debt at TPBank for its subsidiary Gia Cattle Lo Pang (277 billion VND); supplement working capital and restructure the debt for its subsidiary Hung Thang Loi Gia Lai (700 billion VND). The expected disbursement time is from 2023-2024.

At the end of the trading session on November 23, HAG shares reached 9,800 VND, up 4.7%.

Thi Ha

Source link: https://vnexpress.net/chung-khoan-lpbank-se-mua-co-phieu-cua-cong-ty-bau-duc-4680575.html