An HAGL banana farm in Ratanakiri Province in Laos. — Photo courtesy of HAGL

The State Securities Commission has just approved a plan by Hoàng Anh Gia Lai (HAGL) to issue 130 million shares. During the 10-day offering period, HAGL must submit a report along with confirmation from the bank where the account is held.

According to HAGL, VNĐ1.3 trillion can be raised and used to partially or fully repay the principal and interest for HAGL's obligations on previous bonds and the group's debt restructuring.

Three major investors include LPBank Securities (LPBS), which said it has plans to purchase 50 million shares, Thaigroup Corporation to purchase 52 million shares, and Nguyễn Đức Quân Tùng, LPBS's CEO, to purchase 28 million shares during the issuance.

Once completed, the three investors can own up to 12.3 per cent of the group's capital share. — VNS