Stock price increases sharply, Hoang Anh Gia Lai of Mr. Duc makes a surprising decision

On the evening of November 24, one day after announcing unusual information about the list of investors expected to offer 130 million individual shares, Hoang Anh Gia Lai Joint Stock Company (HAGL), chaired by Mr. Doan Nguyen Duc (Bau Duc), suddenly canceled the list of investors expected to buy shares to update it.

The reason the HAGL board of directors requested to cancel the resolution passed in the middle of this week was "due to negligence in the process of exchanging information, errors occurred". HAGL will adjust information about the list of investors expected to be offered for sale.

At the same time, HAGL said it will complete the registration documents for private share offering to submit to the State Securities Commission in November and December this year.

Mr. Doan Nguyen Duc 1-7818-1409.jpeg — Bau Duc's company suddenly cancels the list of investors about to buy 130 million shares

HAGL also plans to complete and announce information related to the list of investors by the end of this month.

The list of investors announced earlier includes: LPBank Securities Joint Stock Company, Viet Cat Fund Management Joint Stock Company (Viet Cat Fund) and professional investor Nguyen Duc Tung Quan.

Previously, on the evening of November 23, HAGL announced a plan to offer 130 million shares at VND10,000 per share to raise VND1,300 billion. The implementation time of the above activities is this year or next year, after being approved by the State Securities Commission. The mobilized capital is mainly used to repay debts and supplement working capital.

In the private offering plan, HAGL also revealed the list of investors to whom the company plans to offer shares.

Accordingly, LPBank Securities Company plans to buy 50 million shares, equivalent to 4.73%; Viet Cat Fund buys 60 million shares, equivalent to 5.67%; Mr. Nguyen Duc Tung Quan buys 20 million, equivalent to 1.89%.

Immediately after announcing the above information, HAG shares of Hoang Anh Gia Lai Joint Stock Company increased for 3 consecutive sessions.

Currently, HAG code is anchored at 10,400 VND/share, up 19% over the past month. Compared to the end of September, HAG stock has increased by 40%.

This is the first time HAG shares have surpassed the 10,000 VND/share mark in over a year.

However, HAG shares are on warning because undistributed profit after tax, as of June 30, is negative.

In September 2022, HAGL offered nearly 162 million shares for sale at VND10,500, expecting to raise VND1,700 billion. However, investors refused to buy, so the plan failed.

Currently, HAGL focuses on three main products: pork, bananas and durian. Of these, durian is expected to be the product that brings in the most revenue and profit for HAGL next year.

Hoang Anh Gia Lai shares of Mr. Duc went against the trend, real estate prices fell sharply . Hoang Anh Gia Lai shares (HAG) of Mr. Duc suddenly attracted cash flow and hit the ceiling near the end of the session, contrary to the cautious trend and slow trading on the stock market.

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