The State Securities Commission has approved Hoang Anh Gia Lai's private placement of 130 million shares, raising 1,300 billion VND.
Accordingly, authorities requested that within 10 days of the offering, the company must submit a report to the Securities Commission, along with confirmation from the bank where the frozen account for the proceeds from the offering is held.
Following the successful private placement of shares, the company will raise 1,300 billion VND. Chairman Duc's company will use approximately 347 billion VND to partially or fully repay the principal and interest on the HAG2012.300 bond issue. Over 253 billion VND will be used to restructure debt for HAGL's subsidiary, and the remaining 700 billion VND will be used to supplement working capital and restructure debt for another subsidiary, Hung Thang Loi Gia Lai.
Mr. Doan Nguyen Duc - Chairman of Hoang Anh Gia Lai. Photo: Duc Dong
According to information released by Hoang Anh Gia Lai Joint Stock Company, the two investors who purchased shares in the company's private placement are LPBank Securities Company, which plans to buy 50 million HAG shares, and Thaigroup Corporation, which plans to buy 52 million shares.
LPBank Securities was established in 2009. Currently, Lien Viet Post Bank (LPBank) is one of the major shareholders of this bank with 5.5% of the shares. Thaigroup, formerly Xuan Thanh Group - a multi-sector private economic group, is currently owned by ThaiHoldings (THD) with over 81% of its capital.
Thaiholdings was formerly a company linked to Mr. Nguyen Duc Thuy. Currently, Mr. Thuy is also the Chairman of the Board of Directors of LPBank. In the last quarter of last year, this bank signed a comprehensive cooperation agreement with HAGL.
In addition, the offering included Mr. Le Minh Tam, the new Chairman of LPBank Securities, born in 1971. After this issuance, Mr. Tam could own 2.65% of HAGL's capital.
Thi Ha
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