Hoang Anh Gia Lai re-announced the list of investors participating in the private offering of 130 million shares, in which ThaiGroup replaced Viet Cat Fund.
This information has just been announced by Hoang Anh Gia Lai Group (HAGL, HAG), after canceling the old list on November 24.
According to the new list, LPBank Securities Company plans to buy 50 million shares (owning 4.73% after issuance), Thaigroup Corporation buys 52 million shares (4.92%) and Mr. Nguyen Duc Quan Tung buys 28 million shares (2.65%).
In the previous private offering plan, Viet Cat Fund planned to buy 60 million HAG shares. Accordingly, this position has been replaced by Thaigroup and a part was bought by professional individual investors.
Thaigroup, formerly Xuan Thanh Group, is a multi-industry private economic group, currently owned by ThaiHoldings (THD) with more than 81% of capital.
Thaiholdings used to be a company related to Mr. Nguyen Duc Thuy. Mr. Thuy is currently the Chairman of the Board of Directors of Lien Viet Post Bank (LPBank). This bank has also just signed a comprehensive cooperation agreement with HAGL.
Previously, on the evening of November 23, Hoang Anh Gia Lai announced a plan to offer 130 million shares at VND10,000 per share. The expected investors at that time included LPBank Securities, Viet Cat Fund Management (Viet Cat Fund) and professional investor Nguyen Duc Tung Quan.
LPBank Securities was established in 2009. Currently, Lien Viet Post Bank (LPBank) is one of the major shareholders of this company, holding 5.5% of shares.
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).
However, one day after the information was announced, Mr. Duc's company announced the cancellation due to "errors that needed to be corrected".
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 issuance 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.
Mr. Duc's company plans to 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) and 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.
Minh Son
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