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Tuesday, June 25, 2024

HAGL to issue 130 million shares via private placement

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 got approval from the State Securities Commission of Vietnam to issue 130 million shares via private placement.

The firm’s shares will be offered at VND10,000 each.

Of those, 50 million shares will be purchased by LPBank Securities, while another 52 million shares will be bought by Thaigroup. The remaining 28 million shares will be acquired by Le Minh Tam, LPBank Securities’ chairman, as an individual investor.

Hoang Anh Gia Lai JSC is expected to mobilize VND1.3 trillion from these transactions to repay debt and inject capital into its subsidiaries.

Regarding its business performance in the fourth quarter of 2023, the company made nearly VND1.9 trillion in revenue, up by 15.8% year-on-year, and around VND1.1 trillion in after-tax profit, skyrocketing by 376.8% over the same period last year.

Closing the trading session today, HAG plunged by 5.2% to VND12,750 per share, with 30.6 million shares changing hands.

On the southern bourse, the VN-Index added 7.2 points, or 0.6%, against the previous session at 1,209.7 points with 288 advancers and 201 decliners.

A total of 822.64 million shares worth VND18.3 trillion changed hands, down by 5% in volume and value against yesterday’s session. Block deals contributed VND747.4 billion to the overall value, with 38.76 million shares transacted.

Stocks in the VN30 basket were the main drivers for the market. Among those, GVR continued to steal the spotlight as it rose by 6.8% to VND26,650 per share, with nearly 7.6 million shares traded.

VIC and VNM contributed around 1.3 points to the index, closing with an increase of 3.6% and 3.3%, respectively.

For real estate stocks, NVL took the lead by liquidity with 35.47 million shares traded. It increased by 1.1% to VND17,700 per share.

With 102 stocks rising and 68 others declining, the HNX-Index of the Hanoi Stock Exchange added 0.29 points, or 0.13%, at 233.04 points. The total trading volume exceeded 66 million shares, with a value of nearly VND1.24 trillion.

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