Mr. Duc's company wants to use shares to exchange for a debt of 2,520 billion VND

(Dan Tri) - The debt of 2,520 billion VND was converted by Hoang Anh Gia Lai into 210 million shares, with transfer restrictions for one year.

Hoang Anh Gia Lai Joint Stock Company (stock code: HAG) is consulting shareholders on converting VND2,520 billion of debt by issuing 210 million shares at VND12,000/unit.

The swap price is lower than the stock price on the stock exchange (VND14,000/unit). These shares are restricted from transfer for one year.

The list of creditors to be converted includes one organization and five individuals. Of these, the only organization is Huong Viet Investment Consulting Joint Stock Company with the converted debt value of nearly VND721 billion. It is expected that after the conversion issuance, Huong Viet will hold 4.74% of the company's capital.

List of creditors and value of debt to be swapped (Source: HAGL).

Before being named in this list, Huong Viet had appeared in documents of Hoang Anh Gia Lai. Ms. Ha Kiet Tran - who was nominated by Mr. Duc to the Board of Directors (BOD) of the group in the recent meeting - is the Capital Investment Director of Huong Viet. Huong Viet is also the largest shareholder of OCBS Securities Company.

OCBS Chairman is Mr. Vo Quang Long, who is also Chairman of the Board of Directors of Huong Viet. Mr. Nguyen Duc Quan Tung was recently appointed as General Director of OCBS from February 10. Mr. Tung wanted to buy HAG shares in the private issuance of the company in 2022 but then did not participate.

Other individuals on the list of creditors include Ms. Nguyen Thi Dao, Mr. Phan Cong Danh, Mr./Ms. Nguyen Anh Thao, Mr. Ho Phuc Truong, and Mr. Nguyen Duc Trung. Of which, Ms. Dao, Mr. Truong, and Mr. Trung all own more than 3% of the company's capital after issuance.

Hoang Anh Gia Lai also announced an adjustment to its revenue and profit plans for this year. Accordingly, the new plan is for net revenue of VND7,100 billion and after-tax profit of VND1,550 billion, up 29% and 39% respectively compared to the previously set targets. If the new plan is implemented, the company will achieve its highest profit in 15 years.

Previously, in a letter to shareholders in early July, Mr. Duc also revealed that he would adjust this year's profits. The reason is that the company will record additional revenue from durian in the second half of the year. An extraordinary income of more than VND1,000 billion may also be recorded in the third quarter, when the necessary procedures are completed.

In the first half of this year, Hoang Anh Gia Lai has been "healthy" as the company's actual profit reached more than 60% of the yearly plan. Durian has not generated revenue yet, but bananas have had a high and stable selling price since the beginning of the year, so they have contributed positively to this result.

In addition to adjusting business targets, Hoang Anh Gia Lai has also officially approved an investment plan to develop raw material areas for growing mulberry and Arabica coffee. For coffee, the expected area is 2,000 hectares in Vietnam and Laos, with a total investment of VND2,002 billion. For mulberry, the expected scale is 2,000 hectares in Vietnam, Cambodia, and Laos with a total investment of VND1,343 billion.

Source: https://dantri.com.vn/kinh-doanh/cong-ty-bau-duc-muon-dung-co-phieu-de-doi-khoan-no-2520-ty-dong-20250725081357265.htm