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Tuesday, June 18, 2024

HAGL plans to divest from affiliate

The Saigon Times

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HCMC – Hoang Anh Gia Lai Joint Stock Company (HAGL), whose HAG shares are traded on the Hochiminh Stock Exchange, has announced to transfer its entire stake in the BAPI Hoang Anh Gia Lai JSC.

HAGL will sell its entire 2.75 million shares in BAPIHAGL. After completing the share transfer process, BAPIHAGL will no longer be an affiliated company of Hoang Anh Gia Lai JSC.

BAPIHAGL was established in May 2022 with the purpose of distributing banana-fed pigs. The company is headquartered in Pleiku City, Gia Lai Province, with initial charter capital of VND50 billion. Of which, HAGL contributed VND27.5 billion, 55% of the total.

In December 2023, the company also decided to transfer its entire 9.9 million shares in the Hoang Anh Gia Lai-University Medical Center to repay debt.

Closing the trading session today, January 2, HAG surged by 3.03% to VND13,600 per share, with nearly 21.3 million shares transacted.

Regarding the stock market, the southern exchange witnessed 197 stocks gaining and 299 declining. Still, the benchmark VN-Index gained 1.79 points, equivalent to 0.16% over the previous session, to 1,131.72 points.

Trade volume totaled 842.2 million shares worth VND17.1 trillion, up 18% in volume and 8% in value compared to the previous session. Some VND1.27 trillion worth of shares were traded in block deals today.

Lender VCB stole the spotlight today as it shot up by nearly 4%, closing the session at VND83,500 per share and contributing nearly five points to the benchmark. ACB also rose by 2.3% to VND24,450.

Meanwhile, many stocks fell into negative territory due to profit-taking pressure, with GEX declining 6.14% to VND22,150. VIX took the lead by liquidity with more than 51.7 million shares changing hands. It fell by 4.1% to VND16,800.

On the Hanoi Stock Exchange, the HNX-Index lost 1.05 points, or 0.45%, to 229.99 points, with 78 winners and 75 losers. The total trading volume reached 59.3 million shares, with a value of over VND1.15 trillion.

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