LPBank Securities Acquires Major Stake in Hoang Anh Gia Lai Joint Stock Company, Boosting Ownership to 8.47%

On April 25, LPBank Securities and related individuals acquired 89.6 million HAG shares, increasing their ownership to 8.47% of the company’s charter capital. The transaction was officially reported to the Ho Chi Minh City Stock Exchange. Following this transaction, LPBank Securities and related persons now hold a total of 89.6 million HAG shares, making them one of the major shareholders at Hoang Anh Gia Lai Joint Stock Company (HAG).

Specifically, LPBank Securities owns 50 million shares, while individuals related to the company hold the remaining HAG shares. This includes 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. Additionally, LPBank and the group of shareholders also sold 52 million HAG shares to Thaigroup Joint Stock Company in a recent private placement.

With the proceeds from the share offering, Bau Duc Company, a subsidiary of Hoang Anh Gia Lai, plans to repurchase bonds issued by the company in 2012 and restructure debt for subsidiaries. The company achieved an after-tax profit of 226 billion VND in the first quarter but still has an accumulated loss amounting to 1,452 billion VND on its balance sheet