Hoang Anh Gia Lai (HAG) recently experienced a significant change in ownership as LPBank Securities and related individuals acquired 89.6 million shares of the company, increasing their ownership to 8.47% of its charter capital. The transaction took place on April 25 and was reported to the Ho Chi Minh City Stock Exchange (HoSE).
Following the acquisition, LPBank Securities and affiliated individuals now hold a substantial portion of HAG shares. LPBank Securities owns 50 million shares, while individuals related to the company hold the remaining shares, including Mr. Le Minh Tam with 28 million shares, Mr. Nguyen Duc Binh with 1.3 million shares, Ms. Tran Thi Thu Huong with 5.65 million shares, and Ms. Pham Le Thi Hong Hoa with 4.68 million shares.
In addition to the acquisition, LPBank Securities and the group of shareholders mentioned above also sold 52 million shares to Thaigroup Joint Stock Company in a recent private placement, representing 4.92% of the company’s charter capital. The proceeds from this sale will be used by Bau Duc Company to repurchase bonds issued by the company in 2012 and restructure debt for subsidiaries.
Meanwhile, Hoang Anh Gia Lai announced the resignation of two board members and reported a first-quarter after-tax profit of 226 billion VND. However, the company still holds an accumulated loss of 1,452.4 billion VND, which is equivalent to 15.7% of its current charter capital. Despite these challenges, HAG shares have reached over 13,100 VND per share as of May 7, indicating market confidence in the company’s ability to navigate changes in ownership and financial performance amidst market fluctuations.
Overall, LPBank Securities’ acquisition of HAG shares represents a significant investment in one of Vietnam’s largest real estate companies and highlights ongoing efforts to restructure debt and improve financial performance within the industry.