Home Companies

HAGL seeks to buy 24 million shares of its farming subsidiary

Sep 18th at 19:00
18-09-2018 19:00:40+07:00

HAGL seeks to buy 24 million shares of its farming subsidiary

Hoang Anh Gia Lai Joint Stock Company (HAGL) (HAG) has registered to purchase 24 million shares of its farming subsidiary HAGL Agrico (HNG).

 

The transaction is planned to be conducted from September 19 to October 18.

HAGL said that the deal aimed to meet the requirements of management.

HAGL now holds more than 488.6 million shares of HNG, or 55.1 per cent. If the deal is successful, HAGL’s holding of voting shares at HAGL Agrico will be increased to 57.81 per cent.

The plan was announced after Truong Hai Auto Corporation (Thaco) and HAGL signed a strategic deal in which Thaco would poured VND3.8 trillion (US$163.1 million) to hold 35 per cent of HAGL Agrico in early August.

HAGL Agrico planned to issue an additional 87.4 million shares at the price of VND16,000 each to raise money for financial restructuring to ensure solvency and reduce financial risks.

HNG was traded at VND16,800 on Tuesday.

bizhub

MOST READ

NEWS SAME CATEGORY

More pharmaceutical firms want to remove FOL
COMPANIES Sep 17th at 09:24

More pharmaceutical firms want to remove FOL

Southern bourse member Pymepharco (ticker PME) is the latest company to announce intentions to ramp up its foreign ownership limit to 100 per cent, following...

Vietcombank offloads MB shares to meet central bank requirement
COMPANIES Sep 16th at 15:43

Vietcombank offloads MB shares to meet central bank requirement

Vietcombank will divest part of its holding in Military Bank (MB) next month to meet the State Bank of Viet Nam (SBV)’s regulation on holding shares at other credit...

Petrolimex (PLX) plans second treasury stock sale by year-end
COMPANIES Sep 14th at 07:57

Petrolimex (PLX) plans second treasury stock sale by year-end

The Viet Nam National Petroleum Group (Petrolimex) is proceeding to sell a maximum of 60 million treasury stocks on the Ho Chi Minh Stock Exchange, the second sale...

$123m bank divident payout
COMPANIES Sep 13th at 10:01

$123m bank divident payout

Vietcombank has decided to pay shareholders a cash dividend at a rate of 8 per cent after last year’s business results.

SSI opens new transaction office in HCM City
COMPANIES Sep 13th at 07:34

SSI opens new transaction office in HCM City

Saigon Securities Inc (SSI) opened a branch on Cach Mang Thang Tam Street in HCM City’s District 3 on Wednesday.

Masan Group (MSN) to sell treasury shares worth nearly VND11 trillion
COMPANIES Sep 13th at 07:33

Masan Group (MSN) to sell treasury shares worth nearly VND11 trillion

Masan Group Corporation (MSN) on Tuesday announced that it planned to sell treasury shares worth nearly VND11 trillion (US$478 million).

FECON elects KPMG as strategic consultancy unit in 2019-2025
COMPANIES Sep 12th at 13:24

FECON elects KPMG as strategic consultancy unit in 2019-2025

FECON JSC (code: FCN) and KPMG Tax and Advisory Co., Ltd. have just launched the Development Strategy Consultancy in 2019-2025, with vision to 2030, as well as...

HAGL Agrico to issue 87.4 million shares in private placement
COMPANIES Sep 11th at 09:39

HAGL Agrico to issue 87.4 million shares in private placement

If the shareholders of Hoang Anh Gia Lai Agricultural JSC (HAGL Agrico), a subsidiary of conglomerate Hoang Anh Gia Lai Group (HAGL), approve the plan to sell 87.4...

PAN finalises Japanese deal
COMPANIES Sep 11th at 09:36

PAN finalises Japanese deal

Vietnamese agriculture and food company PAN Group JSC has finalised its private placement plan with Japanese Sojitz Corporation, which is projected to take place...

DHG sees profits rise
COMPANIES Sep 11th at 09:33

DHG sees profits rise

The Hau Giang Pharmaceutical Joint Stock Company (DHG) is expected to attain post-tax profit of VND705 billion (US$31 million) in 2018, up 10 per cent year-on-year...

Read More

MOST READ

Back To Top