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HAGL Agrico to sell 59 million shares

Nov 2nd at 13:45
02-11-2015 13:45:37+07:00

HAGL Agrico to sell 59 million shares

Hoang Anh Gia Lai Agricultural Joint Stock Company (HAGL Agrico) will sell 59 million shares to strategic investors at the price of VND28,000 per share to gain VND1.65 trillion (US$73.3 million).

 

The income from this deal will be spent on making additional investments for the company's projects.

HAGL Agrico has approved two strategic investors for this deal, which are Cuong Thinh Rubber Investment Company Limited and An Thinh Rubber Investment Company Limited.

The two companies will buy 27.5 million shares and 31.5 million shares in the deal, respectively.

The deal will be carried out after the State Securities Commission confirms it receives the application for this deal from HAGL Agrico. The deal must be completed by the end of this year.

HAGL Agrico is now listed as HNG on the HCM Stock Exchange and has a chartered capital of VND708 billion ($31.5 million). HAGL Joint Stock Company is the biggest shareholder in HAGL Agrico, holding 86 per cent of the company.

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