Workers process bananas at a plant of HAGL. — Photo hagl.com.vn

Hoang Anh Gia Lai JSC (HAGL) has just announced the successful issuance of a private placement, raising a total of VNĐ1.3 trillion (US$51 million).

Đoàn Nguyên Đức, Chairman of HAGL's Board of Directors, has signed a resolution approving the investor list for the successful non-public offering.

Three investors: Thaigroup, LPBank Securities JSC and individual investor Lê Minh Tâm, have acquired 52 million shares, 50 million shares and 28 million shares, respectively. All the investors have affiliations with Lien Viet Post Joint Stock Commercial Bank (LPBank).

In total, HAGL has successfully sold 130 million shares in the private placement at a price of VNĐ10,000 per share.

Following the issuance, HAGL has also enacted revisions to its company bylaws, raising its charter capital from nearly VNĐ9.3 trillion to VNĐ10.6 trillion.

In early March, HAGL and LPBank signed a funding agreement worth VNĐ5 trillion.

In the first phase, LPBank will disburse VNĐ3 trillion to HAGL, enabling them to expand and develop three key products: bananas, durian and pig farming. LPBank will also appoint representatives to join HAGL's Board of Directors, providing direct support, advisory services and enhancing the company's management capabilities and operational efficiency.

With LPBank's financial support, HAGL has set ambitious targets for the new phase of development.

By 2024, it aims to increase the durian plantation area to 2,000 hectares and the banana plantation area to 9,000 hectares. In 2025, HAGL plans to further expand the durian plantation to 3,000 hectares and the banana plantation to over 10,000 hectares.

By 2026, the target is to have a total plantation area of 25,000 hectares for bananas, durian and other economically valuable crops across Việt Nam, Laos and Cambodia.

On the stock market, shares of HAGL were last traded at VNĐ11,800 a share. — VNS