The State Securities Commission (SSC) has just approved Hoang Anh Gia Lai Joint Stock Company (code: HAG) of Mr. Doan Nguyen Duc (Bau Duc) to issue 130 million individual shares at a price of VND10,000/share.

The State Securities Commission requires that within 10 days of the offering, HAG must send a report with confirmation from the bank where the account is opened to block the proceeds from the offering.

Regarding the capital usage plan, after mobilizing 1,300 billion VND from the above offering of 130 million shares, HAG said it will use 330.5 billion VND to pay off the debt of the HAG2012.300 bond lot; use 269.5 billion VND to restructure the debt for its subsidiary, Lo Pang Livestock JSC, with Tien Phong Commercial Joint Stock Bank.

With the remaining 700 billion VND, HAG will add to working capital and restructure debt for Hung Thang Loi Gia Lai Company Limited (subsidiary).

The disbursement time for the proceeds from the above issuance has been adjusted by HAGL's Board of Directors to 2024.

Investors include LPBank Securities JSC, which plans to buy 50 million shares, with a 4.73% ownership ratio after the offering. Thaigroup Corporation plans to buy 52 million shares, with a 4.92% ownership ratio after the purchase. Individual investor Le Minh Tam plans to buy 28 million shares to increase his ownership to 2.65% of the charter capital.

In 2023, HAG will carry out a series of asset liquidations. In addition, Hoang Anh Gia Lai will also receive a loan interest exemption from Eximbank, thereby helping quarterly profits increase dramatically.

Specifically, HAGL sold Hoang Anh Gia Lai Hotel for 180 billion VND to pay off HAGL bonds issued in 2016 to the Joint Stock Commercial Bank for Investment and Development of Vietnam ( BIDV ).

On December 27, Bau Duc's company decided to sell the University of Medicine and Pharmacy Hospital - Hoang Anh Gia Lai to continue restructuring debt, fulfilling the commitment to be debt-free in the next few years.

Accordingly, the Board of Directors approved the transfer of all 9.9 million shares (equivalent to 99%) of charter capital at University of Medicine and Pharmacy Hospital Joint Stock Company - Hoang Anh Gia Lai to repay the principal of 2016 bonds. This hospital was established in 2011, in Pleiku City (Gia Lai), with an initial investment capital of 250 billion VND.

In 2023, Hoang Anh Gia Lai Joint Stock Company paid off the debt of 750 billion VND to Eximbank and received a 1,000 billion VND interest reduction.

By the end of 2023, HAG's net revenue will reach more than VND 6,900 billion, an increase of 35% over the same period; total pre-tax profit will reach more than VND 1,800 billion, an increase of VND 800 billion over the same period in 2022.

In the market, at the end of the trading session on February 16, HAG shares reached 12,750 VND/share, 1.7 times higher than the bottom in September 2023.

Hoang Anh Gia Lai changed its list of investors for the third time, 130 million shares . In the third change in HAG's list, two organizations, Thaigroup and LPBank Securities, still kept the same amount of shares they wanted to buy, while investor Nguyen Duc Quan Tung withdrew to make room for a new name.