Hoang Anh Gia Lai Joint Stock Company (HAGL, stock code HAG) announced the results of collecting shareholders' written opinions on issuing individual shares to partners to raise capital.
Accordingly, shareholders agreed with the proposal of the company's Board of Directors to privately issue 130 million new shares at an expected price of VND10,000/share to raise VND1,300 billion.
Mr. Duc's company plans to use this money to pay off the debts of HAGL and its subsidiaries. Specifically, to pay off the principal and interest of bonds issued by HAGL since June 2012; to restructure bank loans for its subsidiary, Lo Pang Livestock Joint Stock Company; to supplement working capital and restructure debts for its subsidiary, Hung Thang Loi Gia Lai Company Limited...
Mr. Duc introduced durian at HAGL's investor meeting in August 2023. Photo: HAGL
It is worth mentioning that HAGL plans to issue private shares to professional investors at VND10,000/share, about 27% higher than HAG's closing price on September 27 of VND7,850/share.
Regarding business activities, HAGL has just announced its business situation in August 2023, recording revenue of 660 billion VND, an increase of 48% over the same period last year. Of which, revenue from the livestock industry reached 182 billion VND, revenue from fruit trees was 338 billion VND and ancillary revenue contributed 140 billion VND. However, this company has not announced its profit after the first 8 months of the year.
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