Daughter of Vietnam agribusiness HAGL’s chairman registers to buy more company shares
Doan Hoang Anh, daughter of HAGL chairman Doan Nguyen Duc, has registered to purchase 1 million HAGL shares amid a 20% increase in the stock’s value over the past three months.
Hoang Anh Gia Lai JSC (HAG) released the information in a disclosure to the State Securities Commission and the Ho Chi Minh Stock Exchange (HoSE) on Wednesday.
HAGL chairman Doan Nguyen Duc. Photo courtesy of Nguoi Lao Dong (Labor) newspaper.
According to the filing, Doan Hoang Anh, daughter of Hoang Anh Gia Lai’s chairman Doan Nguyen Duc, plans to acquire the shares through order matching on the exchange between December 23, 2024 and January 21, 2025. The purpose of the transaction is to increase her ownership stake in the company.
Currently, Anh holds 13 million HAGL shares, equivalent to 1.23% ownership. Following the transaction, her stake is expected to rise to 14 million shares, or 1.32%.
At the close of trading on Thursday, HAGL shares were priced at VND12,350 ($0.49) per each. At this rate, Hoang Anh would need to spend approximately VND12.4 billion ($487,086) to complete the transaction.
HAG has reported a series of positive developments over the past three months, including profitability milestones. The company successfully met its goals of planting 2,000 hectares of durian, 7,000 hectares of bananas, and establishing a cluster of pig farms with a capacity of 500,000 pigs.
HAGL’s financial performance has also been strong over the past three years. The company reported a profit after tax of VND1,124 billion ($44.2 million) in 2022 and a record VND1,800 billion ($70.7 million) in 2023.
For the first nine months of 2024, HAGL recorded revenue exceeding VND4,000 billion ($157.1 million) and a profit after tax of VND831 billion ($32.6 million), a 20% increase compared to the same period last year.
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