Hoang Anh Gia Lai Joint Stock Company (HAG) has successfully sold 130 million individual shares, raising a record 1,300 billion VND. The company recently announced this news to the public. The three investors who participated in the offering were Mr. Le Minh Tam, LPBank Securities Company, and Thaigroup, collectively purchasing 130 million shares. Mr. Le Minh Tam bought 28 million shares, LPBank Securities Company bought 50 million shares, and Thaigroup bought 52 million shares. The offering price per share was set at 10,000 VND.
Following the private stock offering, HAG also approved a charter amendment that increased its capital from nearly 9,275 billion VND to almost 10,575 billion VND. This year has been marked by significant changes for HAG. In April, the company rebranded itself with colors closely resembling the LPBank logo. In March, LPBank invested an impressive sum of 5 billion VND into HAG through a sponsorship contract focused on green agriculture. In November, a comprehensive cooperation agreement was signed between LPBank and the Football Academy and HAG Football Club that resulted in the renaming of both institutions to their new names: LPBank Football Academy – Hoang Anh Gia Lai and LPBank Football Club – Hoang Anh Gia Lai respectively.
According to Mr. Duc’s annual report for 2023, he stated that partnering with LPBank helped stabilize HAG’s financial resources. Looking forward to the upcoming year, the company plans to expand by planting an additional 2 thousand hectares of bananas and half a thousand hectares of durian in addition to its existing plantations of mango and rubber trees. Last year saw significant growth for HAG as it achieved a net revenue of over six thousand nine hundred thirty-two billion VND (6932 billion), which is a whopping thirty-six percent increase from the previous year’s net revenue of over four thousand eight hundred seventy-two billion VND (4872 billion). Furthermore, HAG’s net profit exceeded eighteen hundred seventeen billion VND (1817 billion), which is its highest profit ever recorded in its thirteen-year history! By December 31st of last year (in calendar year), HAG had total assets worth over twenty-one point five hundred twenty-seven billion VND (21527 billion) while reducing accumulated losses by almost half compared to the previous years’ figures.
In conclusion, Hoang Anh Gia Lai Joint Stock Company has experienced tremendous success in recent years due in part to its strategic partnership with LPBank through various investments such as sponsorship contracts focused on green agriculture or comprehensive cooperation agreements like those signed with football academies or clubs like Vietnam’s national team club called FC Viet Nam Mỹ FCL (“Vietnam United States FCL”).
